Shopify Inc. (SHOP) Holdings Lifted by Meridian Wealth Management LLC

Meridian Wealth Management LLC grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) by 18.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,477 shares of the software maker’s stock after purchasing an additional 544 shares during the quarter. Meridian Wealth Management LLC’s holdings in Shopify were worth $413,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SHOP. Coatue Management LLC purchased a new position in shares of Shopify during the 2nd quarter worth $228,174,000. FMR LLC lifted its stake in shares of Shopify by 8.5% during the 2nd quarter. FMR LLC now owns 12,560,797 shares of the software maker’s stock worth $1,090,644,000 after purchasing an additional 989,113 shares during the period. Baillie Gifford & Co. purchased a new position in shares of Shopify during the 3rd quarter worth $109,344,000. Public Sector Pension investment Board purchased a new position in shares of Shopify during the 2nd quarter worth $40,637,000. Finally, Franklin Resources Inc. lifted its stake in shares of Shopify by 1,871.5% during the 2nd quarter. Franklin Resources Inc. now owns 398,250 shares of the software maker’s stock worth $34,607,000 after purchasing an additional 378,050 shares during the period. 55.03% of the stock is currently owned by institutional investors.

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A number of research firms have recently commented on SHOP. Macquarie upped their price objective on Shopify from $121.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, September 20th. Vetr downgraded Shopify from a “buy” rating to a “hold” rating and set a $120.91 price objective for the company. in a report on Tuesday, September 12th. Robert W. Baird restated a “buy” rating and set a $110.00 price objective on shares of Shopify in a report on Friday, September 29th. KeyCorp restated a “buy” rating and set a $116.00 price objective on shares of Shopify in a report on Friday, September 8th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $110.00 price objective on shares of Shopify in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $100.45.

Shopify Inc. (SHOP) traded down $1.18 during trading hours on Friday, reaching $98.71. 1,969,555 shares of the company’s stock were exchanged, compared to its average volume of 4,226,823. Shopify Inc. has a one year low of $37.74 and a one year high of $123.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.64 and a quick ratio of 11.80.

Shopify Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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