Plato Investment Management Ltd Has $4.55 Million Position in Shopify Inc. $SHOP

Plato Investment Management Ltd lifted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 44.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,834 shares of the software maker’s stock after purchasing an additional 9,448 shares during the period. Plato Investment Management Ltd’s holdings in Shopify were worth $4,548,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SHOP. Heartwood Wealth Advisors LLC bought a new position in shares of Shopify in the third quarter worth about $27,000. Rothschild Investment LLC increased its holdings in shares of Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in Shopify in the 2nd quarter worth approximately $27,000. Tradewinds Capital Management LLC raised its position in Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Estabrook Capital Management acquired a new position in Shopify during the 2nd quarter worth $29,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $112.05 on Friday. The stock has a market cap of $145.87 billion, a P/E ratio of 83.00, a P/E/G ratio of 3.30 and a beta of 2.83. The firm has a 50 day moving average price of $154.35 and a 200 day moving average price of $151.05. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SHOP shares. Scotiabank raised Shopify from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $165.00 to $200.00 in a research note on Thursday, January 8th. Wedbush reiterated an “outperform” rating and issued a $185.00 price objective (up from $160.00) on shares of Shopify in a research report on Tuesday, November 4th. Citigroup restated a “market outperform” rating on shares of Shopify in a research report on Thursday, December 4th. UBS Group set a $195.00 target price on shares of Shopify in a research note on Wednesday, December 3rd. Finally, DZ Bank raised shares of Shopify from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Twenty-five equities research analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $171.70.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.