Brown Brothers Harriman & Co. raised its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 100.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,840 shares of the software maker's stock after buying an additional 3,422 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Shopify were worth $727,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings 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 in the last quarter. Norges Bank acquired a new position in shares of Shopify during the 4th quarter valued at about $1,542,262,000. National Bank of Canada FI grew its holdings in shares of 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 period. Connor Clark & Lunn Investment Management Ltd. increased 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 last quarter. Finally, Geode Capital Management LLC increased its position 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 purchasing an additional 471,280 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.
Shopify Price Performance
Shares of NYSE SHOP traded up $2.90 on Wednesday, hitting $100.54. The company's stock had a trading volume of 7,080,638 shares, compared to its average volume of 8,779,585. The stock has a 50 day moving average of $109.88 and a 200-day moving average of $101.33. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a market capitalization of $130.18 billion, a price-to-earnings ratio of 64.86, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on SHOP shares. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Citigroup increased their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Piper Sandler boosted their price target on shares of Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on shares of Shopify from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group lifted their target price on shares of Shopify from $125.00 to $140.00 and gave the company a "buy" rating 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.31.
Read Our Latest Report on SHOP
Shopify Company 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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