Prospera Financial Services Inc Has $9.44 Million Stake in Shopify Inc. $SHOP

by · The Markets Daily

Prospera Financial Services Inc increased its holdings in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 163.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,529 shares of the software maker’s stock after acquiring an additional 39,454 shares during the quarter. Prospera Financial Services Inc’s holdings in Shopify were worth $9,441,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SHOP. Knights of Columbus Asset Advisors LLC bought a new position in Shopify in the 3rd quarter valued at about $4,110,000. Principal Financial Group Inc. boosted its holdings in shares of Shopify by 16.3% during the third quarter. Principal Financial Group Inc. now owns 450,895 shares of the software maker’s stock worth $67,006,000 after acquiring an additional 63,300 shares during the period. Triton Financial Group Inc acquired a new position in shares of Shopify in the third quarter valued at approximately $1,931,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Shopify by 4.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock worth $603,425,000 after purchasing an additional 218,829 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Shopify by 65.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 158,514 shares of the software maker’s stock worth $23,557,000 after purchasing an additional 62,743 shares during the period. Institutional investors own 69.27% of the company’s stock.

Key Shopify News

Here are the key news stories impacting Shopify this week:

Analysts Set New Price Targets

Several research firms recently issued reports on SHOP. KeyCorp boosted their price target on Shopify from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Arete Research set a $175.00 target price on Shopify in a report on Monday, February 2nd. Royal Bank Of Canada set a $200.00 target price on shares of Shopify and gave the company an “outperform” rating in a research report on Monday, January 26th. Raymond James Financial reaffirmed a “market perform” rating on shares of Shopify in a research report on Monday, December 1st. Finally, Wolfe Research upgraded shares of Shopify from a “hold” rating to an “outperform” rating in a research note on Tuesday, January 6th. Twenty-seven analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $170.21.

View Our Latest Report on Shopify

Shopify Stock Up 7.5%

SHOP opened at $127.24 on Wednesday. The stock has a market capitalization of $165.65 billion, a price-to-earnings ratio of 94.25, a P/E/G ratio of 3.49 and a beta of 2.83. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The company has a 50-day simple moving average of $153.14 and a 200 day simple moving average of $151.25.

About Shopify

(Free Report)

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.

Further Reading