Loomis Sayles & Co. L P lessened its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,612,866 shares of the software maker's stock after selling 470,344 shares during the quarter. Shopify accounts for approximately 167.9% of Loomis Sayles & Co. L P's holdings, making the stock its 14th biggest holding. Loomis Sayles & Co. L P owned approximately 1.13% of Shopify worth $1,553,786,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after buying an additional 781,162 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker's stock worth $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Shopify by 30.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker's stock valued at $754,201,000 after purchasing an additional 1,647,374 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Shopify by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker's stock worth $432,573,000 after buying an additional 471,280 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Shopify by 8.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,788,762 shares of the software maker's stock valued at $223,391,000 after acquiring an additional 220,498 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Scotiabank raised their target price on shares of Shopify from $115.00 to $120.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Phillip Securities cut Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. Finally, CIBC lifted their target price on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.31.
Check Out Our Latest Research Report on Shopify
Shopify Trading Down 5.9 %
NYSE SHOP traded down $6.01 during midday trading on Friday, hitting $96.51. The company had a trading volume of 13,198,615 shares, compared to its average volume of 8,764,471. The firm has a 50-day moving average price of $110.21 and a 200-day moving average price of $100.78. The company has a market capitalization of $124.96 billion, a PE ratio of 62.27, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts anticipate that Shopify Inc. will post 1.12 EPS 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.
Further Reading
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