Shopify Inc. (NYSE:SHOP) Shares Bought by USS Investment Management Ltd

USS Investment Management Ltd raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,936 shares of the software maker’s stock after acquiring an additional 4,382 shares during the quarter. USS Investment Management Ltd’s holdings in Shopify were worth $20,075,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SHOP. LRI Investments LLC grew its stake in Shopify by 9.8% during the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock valued at $94,000 after acquiring an additional 79 shares in the last quarter. Tidemark LLC boosted its holdings in shares of Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after purchasing an additional 90 shares during the last quarter. Howland Capital Management LLC grew its position in shares of Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares in the last quarter. First United Bank & Trust grew its position in shares of Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP opened at $106.43 on Wednesday. The business has a fifty day moving average price of $94.87 and a 200 day moving average price of $104.30. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a market capitalization of $137.81 billion, a price-to-earnings ratio of 68.66, a PEG ratio of 4.82 and a beta of 2.66.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Shopify from $124.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald lowered their price target on shares of Shopify from $120.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Wedbush restated an “outperform” rating and set a $110.00 price objective on shares of Shopify in a research report on Tuesday, April 15th. Barclays reduced their target price on shares of Shopify from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. Finally, CIBC increased their price target on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.37.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.