Ted Buchan & Co purchased a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,326 shares of the software maker's stock, valued at approximately $1,311,000.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after buying an additional 7,316,862 shares during the last quarter. Norges Bank acquired a new position in Shopify during the fourth quarter worth approximately $1,542,262,000. National Bank of Canada FI lifted its stake in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker's stock valued at $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Shopify by 30.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker's stock valued at $754,201,000 after acquiring an additional 1,647,374 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently commented on SHOP shares. Wedbush reiterated an "outperform" rating and issued a $125.00 price target on shares of Shopify in a research report on Tuesday, February 11th. Evercore ISI upped their target price on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Royal Bank of Canada set a $145.00 target price on shares of Shopify and gave the stock an "outperform" rating in a research note on Friday, March 21st. Morgan Stanley boosted their price target on Shopify from $126.00 to $144.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $120.00 price objective on shares of Shopify in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.31.
Get Our Latest Report on Shopify
Shopify Trading Down 6.6 %
NYSE:SHOP opened at $76.89 on Friday. The firm has a market cap of $99.56 billion, a price-to-earnings ratio of 49.61, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company's 50-day moving average is $108.67 and its two-hundred day moving average is $101.22.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.
Shopify Profile
(
Free Report)
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.
See Also
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