Schroder Investment Management Group Acquires New Shares in Shopify Inc. (NYSE:SHOP)

Schroder Investment Management Group bought a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to its most recent filing with the SEC. The firm bought 877,716 shares of the software maker's stock, valued at approximately $93,644,000. Schroder Investment Management Group owned approximately 0.07% of Shopify as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC bought a new position in Shopify in the 4th quarter valued at $132,323,000. Watts Gwilliam & Co. LLC grew its position in Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock valued at $1,431,000 after buying an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock worth $27,409,000 after buying an additional 77,500 shares during the last quarter. Wahed Invest LLC raised its position in Shopify by 18.4% in the third quarter. Wahed Invest LLC now owns 57,624 shares of the software maker's stock worth $4,618,000 after acquiring an additional 8,960 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Shopify in the third quarter valued at about $33,676,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

NYSE SHOP traded up $3.01 during trading hours on Wednesday, reaching $100.65. 7,587,507 shares of the company's stock traded hands, compared to its average volume of 8,802,637. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a 50-day simple moving average of $109.88 and a 200 day simple moving average of $101.33. The firm has a market cap of $130.32 billion, a PE ratio of 64.94, a PEG ratio of 4.82 and a beta of 2.81.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results 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%. Sell-side analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SHOP shares. JPMorgan Chase & Co. raised their price target on shares of Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a research note on Tuesday, February 18th. TD Securities increased their price objective on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Oppenheimer lifted their target price on Shopify from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, JMP Securities reissued a "market outperform" rating and issued a $120.00 price target on shares of Shopify in a report on Thursday, December 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.