Bessemer Group Inc. Acquires Shares of 61,127 Shopify Inc. (SHOP)

Bessemer Group Inc. bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 61,127 shares of the company’s stock, valued at approximately $2,621,000.

Several other institutional investors have also recently modified their holdings of SHOP. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Shopify by 53.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,635,131 shares of the company’s stock worth $70,033,000 after buying an additional 569,800 shares during the last quarter. Whale Rock Capital Management LLC raised its position in shares of Shopify by 41.8% in the third quarter. Whale Rock Capital Management LLC now owns 1,402,861 shares of the company’s stock worth $60,211,000 after buying an additional 413,323 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Shopify by 106.8% in the third quarter. Bank of New York Mellon Corp now owns 954,041 shares of the company’s stock worth $40,948,000 after buying an additional 492,619 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Shopify during the third quarter worth $37,184,000. Finally, Peregrine Capital Management LLC purchased a new position in shares of Shopify during the third quarter worth $22,282,000. 69.10% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP) traded up 1.09% on Monday, hitting $55.82. The stock had a trading volume of 1,972,166 shares. Shopify Inc. has a 52 week low of $18.58 and a 52 week high of $57.16. The firm has a 50-day moving average of $48.94 and a 200 day moving average of $43.00. The company’s market capitalization is $4.97 billion.

This article was originally published by sleekmoney and is the property of of sleekmoney. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright law. The original version of this article can be viewed at http://sleekmoney.com/bessemer-group-inc-acquires-shares-of-61127-shopify-inc-shop/1658585.html.

SHOP has been the topic of a number of research reports. Credit Suisse Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Shopify in a research report on Thursday, November 3rd. Zacks Investment Research raised Shopify from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Friday, October 28th. BTIG Research reaffirmed a “buy” rating on shares of Shopify in a research report on Thursday, December 29th. Citigroup Inc. assumed coverage on Shopify in a research report on Thursday, December 1st. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Finally, Roth Capital set a $49.00 price target on Shopify and gave the company a “buy” rating in a research report on Tuesday, October 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $50.13.

About Shopify

Shopify Inc is a Canada-based company engaged in the offering cloud-based, multi-channel commerce platform. The Company’s platform is designed for small and medium-sized businesses. Using a single interface, the Company’s merchants can design, set up and manage their business across multiple sales channels, including Web and mobile storefronts, social media storefronts and physical retail locations.

5 Day Chart for NYSE:SHOP

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP) (TSE:SH).

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/bessemer-group-inc-acquires-shares-of-61127-shopify-inc-shop/1658585.html

Receive News & Ratings for Shopify Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *