Bollard Group LLC boosted its holdings in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 1,935.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,350 shares of the software maker’s stock after buying an additional 19,350 shares during the period. Bollard Group LLC’s holdings in Shopify were worth $2,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mackey Komara & Dankovich LLC acquired a new position in Shopify in the fourth quarter valued at approximately $28,000. Optimum Investment Advisors acquired a new stake in Shopify in the fourth quarter worth $28,000. We Are One Seven LLC acquired a new stake in Shopify in the fourth quarter worth $27,000. North Star Investment Management Corp. raised its holdings in Shopify by 90.9% in the fourth quarter. North Star Investment Management Corp. now owns 210 shares of the software maker’s stock worth $29,000 after purchasing an additional 100 shares during the period. Finally, Reilly Financial Advisors LLC raised its holdings in Shopify by 63.7% in the fourth quarter. Reilly Financial Advisors LLC now owns 257 shares of the software maker’s stock worth $36,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 62.32% of the company’s stock.

Shares of NYSE:SHOP opened at $175.95 on Monday. Shopify Inc has a 12 month low of $112.50 and a 12 month high of $176.99. The company has a current ratio of 11.82, a quick ratio of 11.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $18.96 billion, a P/E ratio of -418.93 and a beta of 1.51.

Several research firms have weighed in on SHOP. DA Davidson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday, December 21st. Macquarie set a $185.00 target price on shares of Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Zacks Investment Research lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Wells Fargo & Co began coverage on shares of Shopify in a report on Tuesday, December 18th. They issued an “outperform” rating and a $175.00 target price on the stock. Finally, Rosenblatt Securities set a $190.00 target price on shares of Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Shopify presently has a consensus rating of “Buy” and a consensus price target of $166.41.

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Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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