Shopify Inc. (NYSE:SHOP) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 100.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,409 shares of the software maker’s stock after purchasing an additional 44,345 shares during the period. Thrivent Financial for Lutherans’ holdings in Shopify were worth $7,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in SHOP. Oliver Lagore Vanvalin Investment Group boosted its position in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Shopify during the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify during the second quarter worth $33,000. Rosenberg Matthew Hamilton boosted its stake in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Shopify during the 2nd quarter valued at $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NYSE:SHOP opened at $106.96 on Friday. The stock has a market cap of $138.02 billion, a price-to-earnings ratio of 99.96, a PEG ratio of 3.09 and a beta of 2.36. 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 12 month low of $48.56 and a 12 month high of $115.62. The stock’s 50 day moving average price is $85.50 and its 200 day moving average price is $72.15.

Analysts Set New Price Targets

SHOP has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. UBS Group raised their price objective on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Benchmark reaffirmed a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird lifted their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify 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.