Andra AP fonden Has $21.97 Million Holdings in Shopify Inc. $SHOP

Andra AP fonden lifted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 166.9% during the first quarter, HoldingsChannel.com reports. The firm owned 185,212 shares of the software maker’s stock after purchasing an additional 115,812 shares during the period. Andra AP fonden’s holdings in Shopify were worth $21,970,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SHOP. M&T Bank Corp raised its holdings in shares of Shopify by 37.1% during the fourth quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock valued at $13,051,000 after purchasing an additional 21,945 shares during the period. Triasima Portfolio Management inc. boosted its holdings in shares of Shopify by 11.0% in the 4th quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock worth $29,398,000 after buying an additional 18,028 shares during the last quarter. Assetmark Inc. lifted its stake in Shopify by 6.7% in the fourth quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock valued at $34,380,000 after purchasing an additional 13,415 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Shopify by 286.6% during the fourth quarter. SG Americas Securities LLC now owns 508,723 shares of the software maker’s stock valued at $81,889,000 after purchasing an additional 377,129 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Shopify by 12.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock valued at $84,689,000 after acquiring an additional 59,745 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Morgan Stanley lowered Shopify from an “overweight” rating to a “buy” rating in a research report on Monday, July 13th. Citigroup downgraded shares of Shopify from a “market outperform” rating to a “neutral” rating in a research note on Friday, July 10th. Barclays set a $126.00 price target on Shopify and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets started coverage on shares of Shopify in a report on Friday, July 10th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.58.

Shopify Trading Up 0.7%

Shares of SHOP stock opened at $124.48 on Tuesday. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a market cap of $161.53 billion, a P/E ratio of 123.25, a P/E/G ratio of 2.68 and a beta of 2.58. The company has a 50 day simple moving average of $112.90 and a two-hundred day simple moving average of $123.07.

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.