Schroder Investment Management Group Purchases 266,100 Shares of Shopify Inc. $SHOP

Schroder Investment Management Group grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 333.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,966 shares of the software maker’s stock after purchasing an additional 266,100 shares during the period. Schroder Investment Management Group’s holdings in Shopify were worth $51,549,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC boosted its stake in Shopify by 1.7% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after buying an additional 59 shares during the period. Accurate Wealth Management LLC increased its stake in Shopify by 2.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock worth $526,000 after acquiring an additional 67 shares during the last quarter. Moloney Securities Asset Management LLC raised its holdings in shares of Shopify by 1.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after acquiring an additional 70 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its position in shares of Shopify by 0.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $180.00 price objective on shares of Shopify in a report on Thursday, February 12th. Wells Fargo & Company set a $191.00 price target on shares of Shopify and gave the stock an “overweight” rating in a research note on Thursday, February 12th. KeyCorp reissued an “overweight” rating and issued a $160.00 price target on shares of Shopify in a report on Wednesday, February 11th. Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the company a “hold” rating in a research report on Wednesday, February 11th. Finally, Bank of America increased their target price on Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.33.

Shopify Stock Performance

SHOP stock opened at $129.36 on Wednesday. The firm has a market cap of $168.41 billion, a P/E ratio of 139.10, a P/E/G ratio of 4.79 and a beta of 2.83. The firm’s fifty day moving average is $135.92 and its 200 day moving average is $149.03. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19.

Shopify Profile

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.