FIL Ltd boosted its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,774,148 shares of the software maker's stock after purchasing an additional 1,682,326 shares during the quarter. Shopify makes up 1.6% of FIL Ltd's investment portfolio, making the stock its 7th largest position. FIL Ltd owned about 1.22% of Shopify worth $1,678,865,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in SHOP. Canopy Partners LLC purchased a new position in shares of Shopify during the 4th quarter valued at $219,000. Certior Financial Group LLC purchased a new position in Shopify during the fourth quarter worth about $200,000. Wellspring Financial Advisors LLC bought a new position in Shopify in the 4th quarter worth about $201,000. Cerity Partners LLC raised its holdings in shares of Shopify by 6.3% in the 4th quarter. Cerity Partners LLC now owns 91,447 shares of the software maker's stock valued at $8,887,000 after acquiring an additional 5,454 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after purchasing an additional 1,426,000 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.
Shopify Stock Down 1.1 %
Shares of NYSE:SHOP traded down $0.92 on Friday, hitting $83.71. 18,094,214 shares of the company traded hands, compared to its average volume of 9,222,259. The company has a market cap of $108.39 billion, a PE ratio of 54.01, a PEG ratio of 4.82 and a beta of 2.82. The stock has a 50 day simple moving average of $104.13 and a 200-day simple moving average of $101.62. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results 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%. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.
Analysts Set New Price Targets
Several brokerages have issued reports on SHOP. UBS Group lifted their target price on shares of Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. ATB Capital raised their price objective on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Wedbush reaffirmed an "outperform" rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. Finally, Citigroup lifted their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. One equities 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $126.31.
Check Out Our Latest Report 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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