Rathbones Group PLC trimmed its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 19.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 893,132 shares of the software maker's stock after selling 219,069 shares during the quarter. Rathbones Group PLC owned approximately 0.07% of Shopify worth $94,967,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Shopify during the 4th quarter valued at about $1,542,262,000. Arrowstreet Capital Limited Partnership lifted its holdings in Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Shopify by 631.3% during the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker's stock valued at $474,187,000 after purchasing an additional 3,849,796 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 purchasing an additional 1,647,374 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Shopify by 30.2% during the 4th quarter. Geode Capital Management LLC now owns 7,015,582 shares of the software maker's stock worth $748,799,000 after purchasing an additional 1,627,776 shares during the period. 69.27% of the stock is currently owned by institutional investors.
Shopify Stock Down 1.1 %
Shares of SHOP traded down $0.92 during mid-day trading on Friday, reaching $83.71. The company's stock had a trading volume of 18,094,214 shares, compared to its average volume of 9,229,511. The company has a market cap of $108.39 billion, a price-to-earnings ratio of 54.01, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. The business has a fifty day moving average of $104.13 and a 200 day moving average of $101.48. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. On average, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.
Wall Street Analysts Forecast Growth
SHOP has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Citigroup upped their price target 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. ATB Capital lifted their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Wedbush restated an "outperform" rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their price objective on Shopify from $120.00 to $135.00 and gave the stock 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 assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $126.31.
Read Our Latest Stock Analysis on SHOP
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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