Shopify Inc. (NYSE:SHOP) Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp grew its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 33.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,412 shares of the software maker's stock after buying an additional 13,775 shares during the quarter. Jones Financial Companies Lllp's holdings in Shopify were worth $5,786,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brooklyn Investment Group purchased a new stake in shares of Shopify during the third quarter worth approximately $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the fourth quarter worth approximately $39,000. Mather Group LLC. increased its position in shares of Shopify by 84.8% during the fourth 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. Truvestments Capital LLC purchased a new stake in shares of Shopify during the third quarter worth approximately $45,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Shopify during the fourth quarter worth approximately $46,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. CIBC upped their target price on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Truist Financial upped 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. ATB Capital upped their target price on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Finally, DA Davidson upped their target price on Shopify from $130.00 to $150.00 and gave the company a "buy" 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $126.31.

Shopify Price Performance

Shares of SHOP traded up $4.67 during mid-day trading on Wednesday, reaching $106.40. The company's stock had a trading volume of 8,406,957 shares, compared to its average volume of 8,110,094. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The stock has a market cap 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. The company's 50 day moving average is $112.57 and its 200 day moving average is $97.59.

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 net margin of 22.74% and a return on equity of 12.00%. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.12 EPS 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.