Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 975,362 shares of the software maker's stock after buying an additional 40,588 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of Shopify worth $103,718,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. FMR LLC boosted its position in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock valued at $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Shopify by 6.3% during 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 during the last quarter. National Bank of Canada FI increased 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 worth $593,588,000 after buying an additional 1,621,981 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Shopify by 30.2% in the 4th 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 acquiring an additional 1,647,374 shares during the last quarter. Institutional investors own 69.27% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on SHOP shares. Piper Sandler upped their target price on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. DA Davidson boosted their price target on Shopify from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. CIBC raised their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Truist Financial lifted their target price on shares of Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Finally, Wedbush restated an "outperform" rating and issued a $125.00 price target on shares of Shopify in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $126.31.
Check Out Our Latest Stock Report on SHOP
Shopify Price Performance
Shares of NYSE:SHOP traded down $6.01 during trading on Friday, reaching $96.51. 13,198,615 shares of the stock were exchanged, compared to its average volume of 8,764,471. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock has a fifty day moving average of $110.21 and a two-hundred day moving average of $100.78. The firm has a market cap of $124.96 billion, a price-to-earnings ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released 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%. Sell-side analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.
About Shopify
(
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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