3,689 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Savvy Advisors Inc.

Savvy Advisors Inc. acquired a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 3,689 shares of the software maker's stock, valued at approximately $392,000.

A number of other large investors have also recently made changes to their positions in SHOP. Norges Bank purchased a new position in Shopify during the fourth quarter valued at approximately $1,542,262,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Shopify by 79.8% during 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 in the last quarter. Alliancebernstein L.P. boosted its holdings in Shopify by 631.3% in the 4th quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker's stock worth $474,187,000 after buying an additional 3,849,796 shares during the period. FIL Ltd boosted its holdings in Shopify by 11.9% in the 4th 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 stake in Shopify by 30.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker's stock worth $754,201,000 after buying an additional 1,647,374 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shopify stock traded down $0.31 during midday trading on Friday, hitting $83.65. 11,591,792 shares of the company's stock were exchanged, compared to its average volume of 9,231,318. The company has a market cap of $108.31 billion, a PE ratio of 53.97, a P/E/G ratio of 4.82 and a beta of 2.82. The firm has a 50-day moving average of $101.26 and a two-hundred day moving average of $101.43. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts' consensus estimates 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 expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank of Canada decreased their target price on Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a research note on Thursday. Mizuho lowered their target price on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday. TD Securities upped their target price on shares of Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on shares of Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, Truist Financial lifted their target price on Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. One 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $120.94.

Shopify 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.