Mediolanum International Funds Ltd Has $6.92 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Mediolanum International Funds Ltd lifted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 421.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,164 shares of the software maker’s stock after purchasing an additional 52,656 shares during the period. Mediolanum International Funds Ltd’s holdings in Shopify were worth $6,922,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Trust Co. of Vermont grew its position in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after buying an additional 100 shares during the last quarter. First United Bank & Trust lifted its stake 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 worth $488,000 after acquiring an additional 100 shares during the period. Sunbelt Securities Inc. boosted its holdings in Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after acquiring an additional 105 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its position in Shopify by 3.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares during the period. Finally, Moser Wealth Advisors LLC raised its holdings in Shopify by 1.4% during the 3rd 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 last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler increased their price target on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Mizuho boosted their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group boosted their price target on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $100.32.

Shopify Stock Performance

SHOP stock opened at $116.70 on Friday. The business has a 50 day moving average of $110.16 and a 200-day moving average of $88.30. The firm has a market cap of $150.79 billion, a PE ratio of 109.07, a P/E/G ratio of 2.45 and a beta of 2.46. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $122.00. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.