Capital Group Investment Management PTE. LTD. Acquires 10,154 Shares of Shopify Inc. (NYSE:SHOP)

Capital Group Investment Management PTE. LTD. grew its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,290 shares of the software maker's stock after purchasing an additional 10,154 shares during the period. Shopify comprises about 1.8% of Capital Group Investment Management PTE. LTD.'s holdings, making the stock its 12th largest position. Capital Group Investment Management PTE. LTD.'s holdings in Shopify were worth $9,282,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SHOP. Capital International Investors lifted its holdings in Shopify by 2.7% in the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after purchasing an additional 968,026 shares during the last quarter. Capital International Sarl lifted its stake in shares of Shopify by 18.7% in the fourth quarter. Capital International Sarl now owns 587,487 shares of the software maker's stock valued at $62,467,000 after buying an additional 92,608 shares during the period. Fairfield Bush & CO. grew its holdings in shares of Shopify by 6.0% during the 4th quarter. Fairfield Bush & CO. now owns 22,009 shares of the software maker's stock worth $2,340,000 after purchasing an additional 1,254 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Shopify by 10.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 4,420,836 shares of the software maker's stock valued at $469,911,000 after buying an additional 423,000 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Shopify during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Up 7.0 %

SHOP traded up $5.98 during trading hours on Wednesday, hitting $91.69. 9,783,518 shares of the company's stock were exchanged, compared to its average volume of 9,241,395. The stock has a market cap of $118.72 billion, a price-to-earnings ratio of 59.16, a PEG ratio of 4.82 and a beta of 2.82. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock's 50-day moving average is $98.84 and its two-hundred day moving average is $101.66.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Robert W. Baird increased their price objective on Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Loop Capital cut their price target on shares of Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Oppenheimer upped their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Barclays increased their price target on Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald lowered their target price on Shopify from $120.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.66.

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.