Bamco Inc. NY Has $218.02 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Bamco Inc. NY boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,720,481 shares of the software maker’s stock after buying an additional 121,562 shares during the quarter. Shopify makes up about 0.6% of Bamco Inc. NY’s holdings, making the stock its 29th biggest position. Bamco Inc. NY owned about 0.21% of Shopify worth $218,019,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SHOP. Moser Wealth Advisors LLC increased its stake in shares of Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after purchasing an additional 128 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after buying an additional 129 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the last quarter. CVA Family Office LLC boosted its position in shares of Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after acquiring an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC grew its stake in shares of Shopify by 3.5% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after acquiring an additional 145 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Evercore upped their price objective on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Canaccord Genuity Group lifted their target price on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Benchmark reaffirmed a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price objective on shares of Shopify in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.84.

Shopify Stock Up 2.7 %

NYSE SHOP opened at $115.60 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $116.35. The stock has a market capitalization of $149.37 billion, a P/E ratio of 108.04, a price-to-earnings-growth ratio of 3.04 and a beta of 2.36. The stock has a fifty day moving average of $89.16 and a 200-day moving average of $74.06.

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.