Coastline Trust Co Has $2.18 Million Stock Position in Shopify Inc. $SHOP

Coastline Trust Co boosted its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 944.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,541 shares of the software maker’s stock after purchasing an additional 12,244 shares during the quarter. Coastline Trust Co’s holdings in Shopify were worth $2,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SHOP. Brighton Jones LLC boosted its stake in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after purchasing an additional 584 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Shopify by 107.3% during the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after buying an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Shopify by 6.6% during the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after buying an additional 506 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Shopify by 100.4% in the second quarter. Nomura Asset Management Co. Ltd. now owns 85,860 shares of the software maker’s stock valued at $9,904,000 after buying an additional 43,021 shares during the period. Finally, Rothschild Investment LLC lifted its holdings in 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 buying an additional 75 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of analyst reports. Citigroup reaffirmed a “buy” rating and set a $172.00 target price (down from $195.00) on shares of Shopify in a report on Friday, February 13th. Wedbush cut their price target on Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. ATB Cormark Capital Markets upgraded Shopify from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Raymond James Financial reaffirmed a “market perform” rating on shares of Shopify in a research note on Monday, December 1st. Finally, Stifel Nicolaus set a $115.00 price objective on Shopify and gave the company a “hold” rating in a report on Wednesday, February 11th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.38.

Shopify Stock Performance

Shares of SHOP stock opened at $122.35 on Friday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The company’s 50 day moving average price is $130.53 and its two-hundred day moving average price is $148.18. The company has a market capitalization of $159.56 billion, a P/E ratio of 131.56, a price-to-earnings-growth ratio of 4.39 and a beta of 2.83.

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.