Ashton Thomas Private Wealth LLC purchased a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,275 shares of the software maker's stock, valued at approximately $561,000.
A number of other large investors also recently modified their holdings of the stock. Baillie Gifford & Co. lifted its holdings in Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker's stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares in the last quarter. FMR LLC lifted its holdings in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares in the last quarter. National Bank of Canada FI grew its position in shares of Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker's stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Shopify by 52.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker's stock worth $308,390,000 after purchasing an additional 1,325,350 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Shopify during the 4th quarter worth approximately $132,323,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.
Shopify Stock Up 5.1 %
NYSE:SHOP traded up $4.79 during trading hours on Wednesday, hitting $97.74. 5,505,721 shares of the company traded hands, compared to its average volume of 8,520,681. The firm's 50-day simple moving average is $111.70 and its 200-day simple moving average is $98.36. The company has a market cap of $126.55 billion, a PE ratio of 63.20, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.
Analyst Ratings Changes
Several research firms have recently weighed in on SHOP. DZ Bank cut Shopify from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st. Mizuho lifted their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Barclays raised their target price on shares of Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify has an average rating of "Moderate Buy" and a consensus target price of $126.31.
Check Out Our Latest Analysis on Shopify
About Shopify
(
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.
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