Arrowstreet Capital Limited Partnership increased its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 79.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,487,579 shares of the software maker's stock after purchasing an additional 7,316,862 shares during the period. Shopify makes up 1.4% of Arrowstreet Capital Limited Partnership's portfolio, making the stock its 6th biggest position. Arrowstreet Capital Limited Partnership owned about 1.28% of Shopify worth $1,752,834,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Allianz SE acquired a new stake in shares of Shopify during the 4th quarter worth about $27,000. PFG Private Wealth Management LLC grew its stake in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its stake in shares of Shopify by 50.0% in the fourth 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. Brooklyn Investment Group bought a new position in shares of Shopify in the third quarter valued at approximately $33,000. Finally, New Wave Wealth Advisors LLC bought a new position in Shopify in the 4th quarter valued at $39,000. Institutional investors own 69.27% of the company's stock.
Analysts Set New Price Targets
SHOP has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Loop Capital raised shares of Shopify from a "hold" rating to a "buy" rating and upped their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Morgan Stanley lifted their price target on shares of Shopify from $126.00 to $144.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Barclays raised their price objective on Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Finally, Citigroup boosted their target price on Shopify from $143.00 to $175.00 and gave the company 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 issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.31.
Check Out Our Latest Analysis on SHOP
Shopify Stock Up 2.2 %
Shares of SHOP traded up $2.19 during trading hours on Wednesday, hitting $99.83. The company had a trading volume of 3,839,934 shares, compared to its average volume of 8,737,435. The business has a fifty day moving average of $109.88 and a 200-day moving average of $101.33. The firm has a market cap of $129.26 billion, a price-to-earnings ratio of 64.40, a PEG ratio of 4.82 and a beta of 2.60. 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 released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. On average, equities analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.
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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