Pinebridge Investments L.P. acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,854 shares of the software maker’s stock, valued at approximately $3,012,000.
Several other hedge funds and other institutional investors have also modified their holdings of SHOP. Coatue Management LLC purchased a new position in shares of Shopify during the second quarter worth about $228,174,000. FMR LLC grew its holdings in shares of Shopify by 8.5% during the second 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 in the last quarter. Baillie Gifford & Co. purchased a new position in shares of Shopify during the third quarter worth about $109,344,000. Public Sector Pension investment Board purchased a new stake in Shopify in the second quarter worth approximately $40,637,000. Finally, Franklin Resources Inc. boosted its stake in Shopify by 1,871.5% in the second quarter. Franklin Resources Inc. now owns 398,250 shares of the software maker’s stock worth $34,607,000 after buying an additional 378,050 shares in the last quarter. 55.34% of the stock is owned by institutional investors.
Shares of Shopify Inc. (NYSE:SHOP) traded down $1.34 during trading on Wednesday, hitting $95.28. The company had a trading volume of 2,454,500 shares, compared to its average volume of 2,102,917. The company has a quick ratio of 10.64, a current ratio of 10.64 and a debt-to-equity ratio of 0.02. Shopify Inc. has a one year low of $39.85 and a one year high of $123.94.
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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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