Investment Management Corp VA ADV Purchases Shares of 1,000 Shopify Inc. (NYSE:SHOP)

Investment Management Corp VA ADV acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,000 shares of the software maker’s stock, valued at approximately $106,000.

Several other large investors have also modified their holdings of SHOP. Capital World Investors boosted its position in shares of Shopify by 0.9% in the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock valued at $5,646,455,000 after purchasing an additional 496,982 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after buying an additional 781,162 shares during the period. FMR LLC boosted its holdings in shares of Shopify by 3.4% in the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock worth $4,653,054,000 after buying an additional 1,426,000 shares during the period. Capital International Investors increased its position in shares of Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock worth $3,883,039,000 after acquiring an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 0.9%

Shares of Shopify stock opened at $103.29 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The stock has a 50 day moving average price of $95.14 and a two-hundred day moving average price of $104.46. The stock has a market capitalization of $133.74 billion, a P/E ratio of 66.64, a PEG ratio of 4.82 and a beta of 2.66.

Analyst Ratings Changes

A number of equities analysts recently commented on SHOP shares. National Bankshares lowered their price objective on shares of Shopify from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. BNP Paribas Exane cut Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a research report on Monday, May 5th. Barclays dropped their price target on Shopify from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. Mizuho reduced their price objective on Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, The Goldman Sachs Group decreased their price objective on Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.37.

Shopify Profile

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.