Scotia Capital Inc. increased its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,117,479 shares of the software maker's stock after acquiring an additional 42,253 shares during the period. Scotia Capital Inc. owned approximately 0.09% of Shopify worth $118,566,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allianz SE bought a new stake in shares of Shopify in the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its position in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify during the 4th quarter worth $39,000. Finally, Mather Group LLC. grew its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after acquiring an additional 184 shares during the last quarter. Institutional investors own 69.27% of the company's stock.
Shopify Trading Down 1.1 %
NYSE SHOP traded down $0.94 on Monday, reaching $82.77. The company's stock had a trading volume of 9,924,952 shares, compared to its average volume of 9,227,090. The business has a 50-day moving average price of $104.13 and a 200 day moving average price of $101.62. The firm has a market cap of $107.17 billion, a PE ratio of 53.40, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. 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 net margin of 22.74% and a return on equity of 12.00%. Analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently weighed in on SHOP shares. Canaccord Genuity Group increased their price target on Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. ATB Capital lifted their target price on shares of Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $120.00 price objective on shares of Shopify in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their price objective on shares of Shopify from $110.00 to $130.00 and gave the stock a "hold" rating in a research report on Tuesday, February 18th. Finally, Truist Financial raised their target price on Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. One 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 assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $124.74.
Read Our Latest Report on Shopify
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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