Blueshift Asset Management LLC increased its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 71.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,380 shares of the software maker's stock after purchasing an additional 3,918 shares during the period. Blueshift Asset Management LLC's holdings in Shopify were worth $997,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of SHOP. FMR LLC raised its position in Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker's stock valued at $658,248,000 after buying an additional 484,561 shares during the last quarter. National Bank of Canada FI raised its position in 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 buying an additional 1,621,981 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position 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 buying an additional 1,647,374 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Shopify by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker's stock valued at $432,573,000 after buying an additional 471,280 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.
Shopify Trading Up 2.4 %
SHOP stock traded up $2.44 during midday trading on Friday, hitting $104.29. The company had a trading volume of 8,690,629 shares, compared to its average volume of 8,602,471. The stock has a market cap of $135.04 billion, a price-to-earnings ratio of 67.29, a PEG ratio of 4.82 and a beta of 2.60. The stock's 50 day moving average price is $110.04 and its 200 day moving average price is $99.53. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. Analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on SHOP shares. Loop Capital raised Shopify from a "hold" rating to a "buy" rating and raised their target price for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Canaccord Genuity Group raised their target price on Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. TD Securities raised their target price on Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. Benchmark raised Shopify from a "hold" rating to a "buy" rating and set a $150.00 target price for the company in a research report on Monday, February 10th. Finally, Robert W. Baird raised their target price on Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and an average price target of $126.31.
Read Our Latest Research Report 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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