Mariner LLC Has $30.23 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Mariner LLC grew its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 284,325 shares of the software maker's stock after purchasing an additional 7,788 shares during the period. Mariner LLC's holdings in Shopify were worth $30,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SHOP. Norges Bank acquired a new position in shares of Shopify in the fourth quarter valued at approximately $1,542,262,000. Arrowstreet Capital Limited Partnership lifted its position 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 valued at $1,752,834,000 after acquiring an additional 7,316,862 shares in the last quarter. Alliancebernstein L.P. lifted 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 acquiring an additional 3,849,796 shares in the last quarter. FIL Ltd boosted its stake in Shopify by 11.9% in the 4th quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock worth $1,678,865,000 after purchasing an additional 1,682,326 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Shopify by 30.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker's stock worth $754,201,000 after purchasing an additional 1,647,374 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SHOP. Cantor Fitzgerald reduced their price objective on Shopify from $120.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday. UBS Group upped their price target on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on shares of Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. New Street Research started coverage on shares of Shopify in a report on Friday, January 10th. They set a "neutral" rating and a $115.00 target price for the company. Finally, Oppenheimer raised their target price on shares of Shopify from $130.00 to $150.00 and gave the company an "outperform" rating in a research 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.94.

Shopify Price Performance

SHOP traded down $0.31 during trading on Friday, hitting $83.65. 11,591,792 shares of the stock traded hands, compared to its average volume of 9,231,416. The business has a 50 day moving average price of $100.46 and a 200 day moving average price of $101.62. The company has a market cap of $108.31 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 4.82 and a beta of 2.82. 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 issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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 research analysts predict that Shopify Inc. will post 1.12 earnings per share 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.