First Trust Advisors LP Has $87.02 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

First Trust Advisors LP lowered its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 9.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 818,331 shares of the software maker's stock after selling 84,553 shares during the quarter. First Trust Advisors LP owned about 0.06% of Shopify worth $87,019,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Shopify during the fourth quarter worth $1,542,262,000. Arrowstreet Capital Limited Partnership lifted its holdings in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after buying an additional 7,316,862 shares in the last quarter. Alliancebernstein L.P. boosted its position in Shopify by 631.3% in the 4th quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker's stock valued at $474,187,000 after buying an additional 3,849,796 shares during the last quarter. Marshall Wace LLP increased its position in shares of Shopify by 623.8% during the fourth quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker's stock worth $198,932,000 after acquiring an additional 2,228,091 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Shopify by 11.9% during the fourth quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock worth $1,678,865,000 after acquiring an additional 1,682,326 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on SHOP. Deutsche Bank Aktiengesellschaft lifted their price objective on Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. CIBC upped their price target on shares of Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their price target on shares of Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Wedbush reiterated an "outperform" rating and issued a $110.00 price target on shares of Shopify in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Shopify currently has an average rating of "Moderate Buy" and a consensus price target of $119.66.

Shopify Stock Performance

Shares of NYSE:SHOP traded up $4.16 during midday trading on Thursday, hitting $95.12. 7,835,282 shares of the stock were exchanged, compared to its average volume of 9,263,209. The company has a market capitalization of $123.16 billion, a PE ratio of 61.37, a P/E/G ratio of 4.82 and a beta of 2.82. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The business's fifty day simple moving average is $97.43 and its two-hundred day simple moving average is $101.69.

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 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 analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Shopify 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.