Shopify Target of Unusually Large Options Trading (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) was the target of some unusual options trading activity on Friday. Stock traders bought 93,858 call options on the stock. This is an increase of 67% compared to the average volume of 56,062 call options.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Evercore increased their target price on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Argus upgraded Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Wedbush restated a “neutral” rating and issued a $115.00 target price (up previously from $72.00) on shares of Shopify in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group upped their price target on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.84.

Shopify Trading Up 2.8 %

NYSE SHOP opened at $115.67 on Friday. The stock has a market cap of $149.46 billion, a P/E ratio of 108.10, a price-to-earnings-growth ratio of 2.96 and a beta of 2.36. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $116.35. The stock has a 50 day simple moving average of $89.16 and a two-hundred day simple moving average of $73.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Hedge Funds Weigh In On Shopify

A number of hedge funds and other institutional investors have recently made changes to their positions in SHOP. Swiss National Bank raised its holdings in Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after buying an additional 7,027 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in Shopify by 4.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after buying an additional 209 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Shopify by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,416,436 shares of the software maker’s stock valued at $193,802,000 after acquiring an additional 136,530 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its position in Shopify by 10.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock valued at $17,390,000 after acquiring an additional 21,265 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Company 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.