Mufg Securities Canada LTD. increased its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 72.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,852,031 shares of the software maker's stock after acquiring an additional 777,696 shares during the period. Shopify comprises approximately 7.1% of Mufg Securities Canada LTD.'s holdings, making the stock its 3rd largest holding. Mufg Securities Canada LTD. owned approximately 0.14% of Shopify worth $196,984,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its position in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Brooklyn Investment Group acquired a new position in Shopify during the 3rd quarter worth $33,000. New Wave Wealth Advisors LLC bought a new position in Shopify in the 4th quarter valued at $39,000. Finally, Mather Group LLC. increased its stake in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after buying an additional 184 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.
Shopify Price Performance
NYSE SHOP traded down $6.01 on Friday, hitting $96.51. 13,198,615 shares of the stock were exchanged, compared to its average volume of 8,764,471. 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. The business's fifty day moving average is $110.21 and its 200 day moving average is $100.78. 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 issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. Analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on SHOP. ATB Capital raised their price target on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Scotiabank raised their target price on shares of Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Robert W. Baird boosted their price target on shares of Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Phillip Securities cut shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 17th. Finally, Morgan Stanley upped their target price on shares of Shopify from $126.00 to $144.00 and gave the company an "overweight" 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and an average price target of $126.31.
Read Our Latest Report on Shopify
Shopify Company 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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