Shopify Inc. (NYSE:SHOP) Shares Purchased by Neuberger Berman Group LLC

Neuberger Berman Group LLC increased its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 66.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 332,199 shares of the software maker's stock after purchasing an additional 133,059 shares during the quarter. Neuberger Berman Group LLC's holdings in Shopify were worth $35,331,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in Shopify in the fourth quarter valued at approximately $1,542,262,000. Arrowstreet Capital Limited Partnership raised its holdings 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 buying an additional 7,316,862 shares during the period. Alliancebernstein L.P. lifted its position in Shopify by 631.3% in the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker's stock valued at $474,187,000 after buying an additional 3,849,796 shares during the last quarter. FIL Ltd boosted its stake in Shopify by 11.9% during the fourth quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock worth $1,678,865,000 after buying an additional 1,682,326 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Shopify by 30.2% during 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 acquiring an additional 1,647,374 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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Shopify Stock Performance

NYSE SHOP traded down $0.94 during trading on Monday, reaching $82.77. The company's stock had a trading volume of 10,454,840 shares, compared to its average volume of 9,227,187. The business's fifty day moving average price is $104.13 and its 200-day moving average price is $101.62. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market cap of $107.17 billion, a price-to-earnings ratio of 53.40, a P/E/G ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. As a group, sell-side analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Barclays raised their price target on Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their price objective on Shopify from $135.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada set a $145.00 target price on Shopify and gave the company an "outperform" rating in a report on Friday, March 21st. Finally, Mizuho cut their price target on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday. One equities research 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $124.74.

Shopify Company 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.