Charles Schwab Investment Management Inc. Has $193.80 Million Position in Shopify Inc. (NYSE:SHOP)

Charles Schwab Investment Management Inc. increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.0% during the third quarter, Holdings Channel reports. The institutional investor owned 2,416,436 shares of the software maker’s stock after purchasing an additional 136,530 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Shopify were worth $193,802,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group lifted its position in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new position in shares of Shopify in the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in Shopify during the second quarter worth $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Shopify during the 2nd quarter valued at $39,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Up 0.5 %

Shares of SHOP opened at $106.96 on Friday. The stock has a market capitalization of $138.02 billion, a P/E ratio of 99.96, a PEG ratio of 2.80 and a beta of 2.36. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $115.62. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $85.50 and a two-hundred day simple moving average of $72.12.

Analyst Ratings Changes

Several research analysts recently weighed in on SHOP shares. JMP Securities boosted their price target on shares of Shopify from $80.00 to $120.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Citigroup increased their target price on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. increased their target price on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Wedbush reiterated a “neutral” rating and issued a $115.00 price target (up from $72.00) on shares of Shopify in a research report on Tuesday, November 12th. Finally, Oppenheimer increased their price objective on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.95.

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.