AGF Management Ltd. boosted its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,592,154 shares of the software maker's stock after acquiring an additional 39,429 shares during the period. AGF Management Ltd. owned about 0.12% of Shopify worth $169,497,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. PFG Private Wealth Management LLC grew its position in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the 4th quarter worth $39,000. Mather Group LLC. raised its holdings in shares of Shopify by 84.8% during 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 period. Brooklyn Investment Group acquired a new position in shares of Shopify during the 3rd quarter valued at about $33,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 69.27% of the company's stock.
Wall Street Analysts Forecast Growth
SHOP has been the subject of several analyst reports. UBS Group increased their price target on shares of Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Robert W. Baird lifted their target price on shares of Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. CIBC boosted their price objective on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised their target price on Shopify from $121.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, JMP Securities reissued a "market outperform" rating and set a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $126.31.
Get Our Latest Stock Report on Shopify
Shopify Stock Performance
SHOP stock traded up $4.15 during trading on Wednesday, hitting $97.10. The stock had a trading volume of 6,510,900 shares, compared to its average volume of 8,526,783. The stock has a market cap of $125.73 billion, a price-to-earnings ratio of 62.72, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The company's 50 day moving average price is $111.70 and its two-hundred day moving average price is $98.36. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data 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%. As a group, sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.
Shopify 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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