Fmr LLC Increases Stake in Shopify Inc. (NYSE:SHOP)

FMR LLC grew its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,732,077 shares of the software maker's stock after purchasing an additional 1,426,000 shares during the quarter. FMR LLC owned about 3.38% of Shopify worth $4,653,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allianz SE acquired a new stake in Shopify in the fourth quarter worth $27,000. PFG Private Wealth Management LLC grew its stake in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after acquiring an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC increased its holdings in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify during the fourth quarter worth approximately $39,000. Finally, Mather Group LLC. lifted 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 worth $43,000 after purchasing an additional 184 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

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Shopify Price Performance

Shares of NYSE:SHOP traded down $1.72 during trading on Friday, hitting $82.91. 12,155,856 shares of the company were exchanged, compared to its average volume of 9,217,227. The stock has a 50 day moving average of $104.84 and a 200 day moving average of $101.45. The company has a market cap of $107.36 billion, a PE ratio of 53.13, 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.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its earnings results 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 forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on SHOP shares. Citigroup boosted their price target on shares of Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price target on shares of Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price objective on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Truist Financial raised their target price on Shopify from $110.00 to $120.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. Finally, ATB Capital upped their price target on Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, Shopify has an average rating of "Moderate Buy" and a consensus target price of $126.31.

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.