Capital World Investors boosted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,102,707 shares of the software maker's stock after acquiring an additional 496,982 shares during the quarter. Shopify comprises approximately 0.9% of Capital World Investors' portfolio, making the stock its 24th biggest holding. Capital World Investors owned about 4.11% of Shopify worth $5,646,455,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in SHOP. Dimensional Fund Advisors LP boosted its position in shares of Shopify by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 496,188 shares of the software maker's stock worth $52,761,000 after buying an additional 26,416 shares in the last quarter. Forum Financial Management LP raised its position in shares of Shopify by 70.8% during the 4th quarter. Forum Financial Management LP now owns 7,125 shares of the software maker's stock worth $758,000 after purchasing an additional 2,953 shares during the last quarter. Infusive Asset Management Inc. purchased a new stake in Shopify in the 4th quarter valued at approximately $5,902,000. Capital International Ltd. CA grew its holdings in Shopify by 12.8% during the 4th quarter. Capital International Ltd. CA now owns 400,051 shares of the software maker's stock valued at $42,537,000 after buying an additional 45,346 shares during the last quarter. Finally, Capital Group Investment Management PTE. LTD. increased its position in Shopify by 13.2% during the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 87,290 shares of the software maker's stock worth $9,282,000 after buying an additional 10,154 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SHOP has been the topic of a number of analyst reports. Royal Bank of Canada decreased their price objective on Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. New Street Research started coverage on shares of Shopify in a research note on Friday, January 10th. They set a "neutral" rating and a $115.00 price target on the stock. Scotiabank boosted 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. Oppenheimer raised their target price on shares of Shopify from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a research note 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.37.
Read Our Latest Stock Analysis on SHOP
Shopify Stock Performance
Shares of SHOP stock traded up $4.07 during mid-day trading on Tuesday, reaching $85.71. 8,591,808 shares of the company were exchanged, compared to its average volume of 9,238,109. The business's 50 day simple moving average is $99.68 and its 200 day simple moving average is $101.78. The company has a market capitalization of $110.98 billion, a P/E ratio of 55.30, a P/E/G ratio of 4.82 and a beta of 2.82. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. On average, analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.
Shopify Company Profile
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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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