Miller Financial Services LLC Takes Position in Shopify Inc. (NYSE:SHOP)

Miller Financial Services LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,244 shares of the software maker's stock, valued at approximately $664,000.

A number of other large investors also recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker's stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. FMR LLC raised its holdings in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock worth $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker's stock worth $658,248,000 after buying an additional 484,561 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker's stock valued at $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker's stock valued at $432,573,000 after acquiring an additional 471,280 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Shopify Stock Up 4.4 %

SHOP traded up $4.13 during trading on Wednesday, reaching $97.08. The company had a trading volume of 6,196,771 shares, compared to its average volume of 8,525,478. The business has a 50 day simple moving average of $111.70 and a 200-day simple moving average of $98.36. The stock has a market cap of $125.70 billion, a P/E ratio of 62.54, a PEG ratio of 4.82 and a beta of 2.60. 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 quarterly 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 return on equity of 12.00% and a net margin of 22.74%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the topic of several analyst reports. UBS Group upped their price objective on Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. CIBC increased their price objective on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Morgan Stanley boosted their target price on Shopify from $126.00 to $144.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. DZ Bank downgraded shares of Shopify from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. Finally, Robert W. Baird boosted their price objective on shares of Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $126.31.

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.