Charles Schwab Investment Management Inc. Grows Holdings in Shopify Inc. (NYSE:SHOP)

Charles Schwab Investment Management Inc. increased its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 3.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,493,086 shares of the software maker's stock after purchasing an additional 76,650 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.19% of Shopify worth $265,206,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. New Wave Wealth Advisors LLC acquired a new position in Shopify during the fourth quarter worth $39,000. Mather Group LLC. raised its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after buying an additional 184 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Shopify in the 3rd quarter valued at $33,000. Sierra Ocean LLC acquired a new position in Shopify during the 4th quarter worth about $46,000. Finally, Synergy Asset Management LLC purchased a new position in Shopify during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. KeyCorp boosted their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Wells Fargo & Company increased their target price on shares of Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. CIBC upped their price objective on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Scotiabank lifted their target price on Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Finally, Phillip Securities lowered Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $126.31.

Shopify Stock Up 4.6 %

Shares of SHOP stock opened at $106.40 on Thursday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock's 50-day moving average price is $112.57 and its 200 day moving average price is $97.59. The stock has a market capitalization of $137.77 billion, a PE ratio of 68.65, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. Analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify Company Profile

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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