Rockefeller Capital Management L.P. Acquires 481,170 Shares of Shopify Inc. (NYSE:SHOP)

Rockefeller Capital Management L.P. lifted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 298.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 642,229 shares of the software maker's stock after acquiring an additional 481,170 shares during the period. Rockefeller Capital Management L.P.'s holdings in Shopify were worth $68,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. M&T Bank Corp raised its stake in shares of Shopify by 2.4% in the third quarter. M&T Bank Corp now owns 42,051 shares of the software maker's stock valued at $3,370,000 after acquiring an additional 1,001 shares during the period. Geode Capital Management LLC raised its position in Shopify by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker's stock worth $432,573,000 after purchasing an additional 471,280 shares during the period. Coldstream Capital Management Inc. lifted its stake in Shopify by 14.3% in the third quarter. Coldstream Capital Management Inc. now owns 4,140 shares of the software maker's stock worth $339,000 after purchasing an additional 518 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in Shopify in the third quarter worth about $1,232,000. Finally, Sanctuary Advisors LLC boosted its position in shares of Shopify by 11.6% during the third quarter. Sanctuary Advisors LLC now owns 151,227 shares of the software maker's stock valued at $12,119,000 after buying an additional 15,740 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Trading Down 1.1 %

SHOP stock opened at $83.71 on Friday. The business's 50-day moving average is $104.13 and its 200 day moving average is $101.48. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The stock has a market cap of $108.39 billion, a price-to-earnings ratio of 54.01, a PEG ratio of 4.82 and a beta of 2.82.

Remove Ads

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results 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%. As a group, equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SHOP shares. Piper Sandler raised their price target on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. TD Securities lifted their target price on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Citigroup boosted their target price on shares of Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Evercore ISI raised their price target on shares of Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, Phillip Securities cut shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $126.31.

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.

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.