Artisan Partners Limited Partnership lessened its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,332,465 shares of the software maker's stock after selling 2,443,006 shares during the quarter. Shopify comprises about 1.2% of Artisan Partners Limited Partnership's investment portfolio, making the stock its 20th largest position. Artisan Partners Limited Partnership owned approximately 0.57% of Shopify worth $779,661,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after acquiring an additional 781,162 shares during the period. National Bank of Canada FI increased its holdings 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 purchasing an additional 1,621,981 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in 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 buying an additional 1,647,374 shares during the period. Geode Capital Management LLC boosted its holdings in Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker's stock worth $432,573,000 after buying an additional 471,280 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Shopify by 8.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,788,762 shares of the software maker's stock worth $223,391,000 after buying an additional 220,498 shares during the period. Institutional investors own 69.27% of the company's stock.
Analyst Upgrades and Downgrades
SHOP has been the topic of a number of analyst reports. Jefferies Financial Group increased their price target on shares of Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a research report on Tuesday, February 18th. New Street Research started coverage on shares of Shopify in a research report on Friday, January 10th. They set a "neutral" rating and a $115.00 price target on the stock. Scotiabank upped their price objective 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. Robert W. Baird lifted their target price on Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $120.00 price target on shares of Shopify in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $126.31.
View Our Latest Stock Analysis on Shopify
Shopify Stock Performance
NYSE:SHOP traded down $6.01 during mid-day trading on Friday, hitting $96.51. The stock had a trading volume of 13,198,615 shares, compared to its average volume of 8,764,471. The company's 50 day simple moving average is $110.21 and its 200 day simple moving average is $100.78. The stock has a market cap of $124.96 billion, a price-to-earnings ratio of 62.27, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate 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 analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.
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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