Argent Trust Co bought a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,674 shares of the software maker's stock, valued at approximately $603,000.
Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Shopify in the 4th quarter worth $1,542,262,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Shopify by 631.3% in the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker's stock worth $474,187,000 after acquiring an additional 3,849,796 shares during the last quarter. FIL Ltd increased its position in shares of Shopify by 11.9% during the fourth quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock worth $1,678,865,000 after purchasing an additional 1,682,326 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised 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 last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. DA Davidson cut their price target on Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a report on Monday. Barclays increased their price target on shares of Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Scotiabank upped their target price on shares of Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Finally, New Street Research started coverage on shares of Shopify in a research note on Friday, January 10th. They issued a "neutral" rating and a $115.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Shopify has a consensus rating of "Moderate Buy" and a consensus price target of $124.74.
Get Our Latest Stock Analysis on SHOP
Shopify Stock Up 1.4 %
Shares of SHOP traded up $1.14 during mid-day trading on Tuesday, reaching $83.91. 6,972,794 shares of the company's stock were exchanged, compared to its average volume of 9,220,226. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a market cap of $108.65 billion, a price-to-earnings ratio of 54.14, a PEG ratio of 4.82 and a beta of 2.82. The company has a 50-day simple moving average of $103.35 and a two-hundred day simple moving average of $101.65.
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 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%. As a group, equities research analysts predict that Shopify Inc. will post 1.12 EPS 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.
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