5,605 Shares in Shopify Inc. $SHOP Acquired by MOR Wealth Management LLC

MOR Wealth Management LLC acquired a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 4th quarter, HoldingsChannel reports. The fund acquired 5,605 shares of the software maker’s stock, valued at approximately $902,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Shopify by 1.2% during the third quarter. Vanguard Group Inc. now owns 49,926,824 shares of the software maker’s stock worth $7,417,517,000 after buying an additional 610,129 shares during the period. Jennison Associates LLC boosted its position in shares of Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after purchasing an additional 7,403,821 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Shopify by 1.4% in the 3rd quarter. TD Asset Management Inc now owns 8,528,510 shares of the software maker’s stock valued at $1,267,327,000 after buying an additional 118,836 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Shopify by 3.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,588,934 shares of the software maker’s stock valued at $978,679,000 after buying an additional 213,315 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Shopify by 4.4% during the 3rd quarter. Legal & General Group Plc now owns 6,188,885 shares of the software maker’s stock worth $919,665,000 after buying an additional 260,968 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

SHOP opened at $111.85 on Monday. The company has a market capitalization of $145.86 billion, a price-to-earnings ratio of 120.27, a P/E/G ratio of 3.96 and a beta of 2.83. The firm’s fifty day moving average price is $125.10 and its two-hundred day moving average price is $147.13. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research note on Friday. Bank of America upped their target price on Shopify from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $175.00 target price on shares of Shopify in a report on Thursday, February 12th. Oppenheimer restated an “outperform” rating on shares of Shopify in a report on Monday, December 1st. Finally, Arete Research set a $175.00 price objective on shares of Shopify in a report on Monday, February 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.38.

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.