Mirabella Financial Services LLP Grows Stock Holdings in Shopify Inc. $SHOP

Mirabella Financial Services LLP grew its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 117.1% in the third quarter, Holdings Channel.com reports. The firm owned 22,103 shares of the software maker’s stock after acquiring an additional 11,920 shares during the quarter. Mirabella Financial Services LLP’s holdings in Shopify were worth $3,279,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its position in Shopify by 17.1% during the third quarter. Moneta Group Investment Advisors LLC now owns 8,083 shares of the software maker’s stock worth $1,201,000 after buying an additional 1,179 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Shopify by 8.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,510,753 shares of the software maker’s stock worth $224,519,000 after buying an additional 116,122 shares during the period. Moore Capital Management LP acquired a new stake in shares of Shopify in the third quarter valued at $419,000. Lighthouse Investment Partners LLC acquired a new position in Shopify in the 3rd quarter valued at about $443,000. Finally, Integrated Wealth Concepts LLC increased its stake in Shopify by 7.4% during the third quarter. Integrated Wealth Concepts LLC now owns 45,278 shares of the software maker’s stock worth $6,729,000 after purchasing an additional 3,119 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 2.9%

NASDAQ SHOP opened at $126.58 on Tuesday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The stock has a market capitalization of $165.07 billion, a PE ratio of 136.11, a price-to-earnings-growth ratio of 4.41 and a beta of 2.83. The firm has a 50 day moving average of $133.12 and a two-hundred day moving average of $148.62.

Analyst Ratings Changes

SHOP has been the subject of several recent research reports. Wedbush lowered their price objective on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. BMO Capital Markets set a $160.00 price target on shares of Shopify in a research note on Thursday, February 12th. Truist Financial set a $150.00 price objective on Shopify and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shopify in a research note on Monday, December 29th. Finally, DZ Bank upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently 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.