Federated Hermes Inc. Has $159.37 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Federated Hermes Inc. trimmed its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,498,838 shares of the software maker's stock after selling 52,716 shares during the quarter. Federated Hermes Inc. owned about 0.12% of Shopify worth $159,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SHOP. Jennison Associates LLC bought a new stake in Shopify in the fourth quarter valued at $132,323,000. Watts Gwilliam & Co. LLC increased its holdings in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock worth $1,431,000 after acquiring an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock valued at $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Shopify during the 3rd quarter valued at about $33,676,000. Finally, Orion Portfolio Solutions LLC grew its position in Shopify by 18.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 101,691 shares of the software maker's stock worth $8,149,000 after purchasing an additional 15,623 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

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Shopify Price Performance

SHOP traded down $2.39 on Friday, reaching $82.24. 11,669,278 shares of the company traded hands, compared to its average volume of 9,215,546. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a market cap of $106.48 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 4.82 and a beta of 2.82. The stock's 50 day moving average price is $104.84 and its 200-day moving average price is $101.45.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. As a group, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent analyst reports. ATB Capital lifted their price target on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Jefferies Financial Group lifted their target price on Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their price target on Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Scotiabank lifted their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Finally, UBS Group increased 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company 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.