Berbice Capital Management LLC Invests $533,000 in Shopify Inc. (NYSE:SHOP)

Berbice Capital Management LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, Holdings Channel.com reports. The firm bought 5,013 shares of the software maker’s stock, valued at approximately $533,000. Shopify accounts for approximately 0.4% of Berbice Capital Management LLC’s holdings, making the stock its 29th largest holding.

A number of other large investors also recently modified their holdings of the stock. Baillie Gifford & Co. lifted its holdings in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the period. FMR LLC increased its stake in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares in the last quarter. Mackenzie Financial Corp increased its stake in Shopify by 49.9% in the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after purchasing an additional 2,102,939 shares in the last quarter. Clearbridge Investments LLC increased its stake in Shopify by 54.2% in the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after purchasing an additional 1,657,251 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Oppenheimer increased their price objective on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Truist Financial increased their price target on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Performance

Shares of SHOP stock opened at $107.71 on Friday. The firm has a 50-day moving average of $109.44 and a 200-day moving average of $86.51. The company has a market cap of $139.17 billion, a P/E ratio of 100.35, a P/E/G ratio of 2.24 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72.

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.