Sei Investments Co. lessened its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 16.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,513,567 shares of the software maker's stock after selling 508,207 shares during the period. Sei Investments Co. owned 0.19% of Shopify worth $267,267,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock valued at $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Shopify by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker's stock worth $658,248,000 after purchasing an additional 484,561 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker's stock valued at $593,588,000 after acquiring an additional 1,621,981 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Shopify by 30.2% during 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 purchasing an additional 1,647,374 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake 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 valued at $432,573,000 after purchasing an additional 471,280 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.
Shopify Stock Down 5.0 %
SHOP stock traded down $5.50 during trading on Wednesday, reaching $104.32. 7,271,043 shares of the company's stock were exchanged, compared to its average volume of 8,620,152. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a market cap of $135.07 billion, a PE ratio of 67.30, a P/E/G ratio of 4.82 and a beta of 2.60. The company's fifty day moving average price is $110.36 and its 200-day moving average price is $100.31.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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, sell-side analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms recently commented on SHOP. TD Securities upped their target price on Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Barclays upped their price objective on Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Scotiabank lifted their target price on Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Jefferies Financial Group boosted their price target on Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a research report on Tuesday, February 18th. Finally, Evercore ISI raised their price objective on Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $126.31.
Get Our Latest Stock Report on Shopify
Shopify Company Profile
(
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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