Legal & General Group Plc lowered its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 28.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,909,188 shares of the software maker's stock after selling 2,391,429 shares during the period. Legal & General Group Plc owned 0.46% of Shopify worth $628,595,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Allianz SE acquired a new position in Shopify during the fourth quarter worth approximately $27,000. PFG Private Wealth Management LLC increased its holdings in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after acquiring an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its stake in Shopify by 50.0% in the 4th 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 during the period. New Wave Wealth Advisors LLC bought a new position in Shopify during the fourth quarter worth $39,000. Finally, Mather Group LLC. increased its holdings in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after purchasing an additional 184 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on SHOP shares. New Street Research assumed coverage on shares of Shopify in a research note on Friday, January 10th. They issued a "neutral" rating and a $115.00 price target on the stock. TD Securities lifted their price target on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Citigroup lifted their target price on Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Wells Fargo & Company raised their price target on shares of Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Finally, Barclays increased their target price on shares of Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and a consensus target price of $126.31.
View Our Latest Stock Report on SHOP
Shopify Stock Down 1.1 %
Shares of NYSE SHOP traded down $0.92 during trading on Friday, reaching $83.71. The company had a trading volume of 18,094,214 shares, compared to its average volume of 9,222,259. 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 $108.39 billion, a P/E ratio of 54.01, a PEG ratio of 4.82 and a beta of 2.82. The company's fifty day moving average price is $104.13 and its 200-day moving average price is $101.62.
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 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, equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.
Shopify Profile
(
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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