Northwest & Ethical Investments L.P. Has $17.42 Million Holdings in Shopify Inc. (NYSE:SHOP)

Northwest & Ethical Investments L.P. lowered its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,955 shares of the software maker's stock after selling 7,419 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Shopify were worth $17,424,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SHOP. Empowered Funds LLC boosted its position in Shopify by 5.7% during the 3rd quarter. Empowered Funds LLC now owns 22,446 shares of the software maker's stock worth $1,799,000 after acquiring an additional 1,211 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Shopify by 100.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 88,409 shares of the software maker's stock valued at $7,086,000 after buying an additional 44,345 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in shares of Shopify by 3.8% in the 3rd quarter. Pathstone Holdings LLC now owns 68,800 shares of the software maker's stock valued at $5,514,000 after buying an additional 2,487 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Shopify by 1.7% in the 3rd quarter. Prospera Financial Services Inc now owns 20,991 shares of the software maker's stock valued at $1,682,000 after buying an additional 349 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at approximately $98,000. Institutional investors and hedge funds own 69.27% of the company's stock.

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Analyst Upgrades and Downgrades

SHOP has been the subject of several recent analyst reports. ATB Capital increased their price objective on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Loop Capital raised Shopify from a "hold" rating to a "buy" rating and increased their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. Royal Bank of Canada set a $145.00 price objective on Shopify and gave the company an "outperform" rating in a report on Friday. New Street Research began coverage on Shopify in a report on Friday, January 10th. They issued a "neutral" rating and a $115.00 price objective for the company. Finally, Citigroup raised their price target on Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. One 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.31.

Shopify Stock Performance

Shares of NYSE SHOP traded up $2.44 during mid-day trading on Friday, reaching $104.29. The company had a trading volume of 8,690,629 shares, compared to its average volume of 8,602,471. The business's 50-day simple moving average is $110.04 and its 200 day simple moving average is $99.73. The firm has a market cap of $135.04 billion, a price-to-earnings ratio of 67.29, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

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 net margin of 22.74% and a return on equity of 12.00%. On average, sell-side analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

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.