AssuredPartners Investment Advisors LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,812 shares of the software maker's stock, valued at approximately $299,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in Shopify by 30.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker's stock worth $754,201,000 after purchasing an additional 1,647,374 shares during the period. National Bank of Canada FI grew its holdings in shares of Shopify by 28.0% during the 3rd 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 in the last quarter. Jennison Associates LLC acquired a new position in shares of Shopify in the fourth quarter valued at $132,323,000. Congress Asset Management Co. bought a new position in shares of Shopify during the 4th quarter worth about $84,074,000. Finally, Vanguard Group Inc. raised its position in Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.
Shopify Price Performance
NYSE:SHOP traded up $2.16 during trading hours on Tuesday, reaching $97.64. 10,301,385 shares of the company were exchanged, compared to its average volume of 8,807,333. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company has a market capitalization of $126.43 billion, a P/E ratio of 62.99, a P/E/G ratio of 4.82 and a beta of 2.60. The business has a 50 day moving average of $109.88 and a 200 day moving average of $101.33.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued 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 anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
SHOP has been the subject of a number of recent research reports. Truist Financial increased their target price on Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Evercore ISI raised their price target on Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Canaccord Genuity Group boosted their target price on Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. TD Securities increased their price objective on shares of Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. Finally, Piper Sandler raised their target price on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.31.
View Our Latest Analysis on Shopify
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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