Angeles Investment Advisors LLC decreased its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 75.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,587 shares of the software maker's stock after selling 7,804 shares during the quarter. Angeles Investment Advisors LLC's holdings in Shopify were worth $275,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in SHOP. Vanguard Group Inc. increased its stake in Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after buying an additional 781,162 shares during the last quarter. FMR LLC increased its position in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Shopify by 6.3% during the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker's stock worth $658,248,000 after acquiring an additional 484,561 shares during the period. National Bank of Canada FI boosted its position 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 worth $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Shopify by 30.2% in the 4th 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 purchasing an additional 1,647,374 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on SHOP. Barclays boosted their price target on shares of Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. DA Davidson boosted their price objective on Shopify from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. UBS Group lifted their target price on shares of Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Shopify has a consensus rating of "Moderate Buy" and a consensus price target of $126.31.
Get Our Latest Stock Analysis on Shopify
Shopify Price Performance
Shopify stock traded up $0.65 during mid-day trading on Tuesday, reaching $109.93. 5,749,047 shares of the company traded hands, compared to its average volume of 8,624,499. The firm's 50 day moving average price is $110.36 and its 200 day moving average price is $100.31. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a market capitalization of $142.34 billion, a price-to-earnings ratio of 70.92, a P/E/G ratio of 4.82 and a beta of 2.60.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly 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, sell-side analysts anticipate that Shopify Inc. will post 1.12 EPS for the current 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.
Further Reading
Before you consider Shopify, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shopify wasn't on the list.
While Shopify currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
