AIA Group Ltd Increases Position in Shopify Inc. (NYSE:SHOP)

AIA Group Ltd increased its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,322 shares of the software maker's stock after buying an additional 9,959 shares during the quarter. AIA Group Ltd's holdings in Shopify were worth $17,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SHOP. Tidemark LLC boosted its holdings in Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after acquiring an additional 90 shares during the period. Howland Capital Management LLC boosted its stake in shares of Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont grew its holdings in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock worth $118,000 after purchasing an additional 100 shares during the last quarter. First United Bank & Trust increased its stake in Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock worth $488,000 after buying an additional 100 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its stake in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after buying an additional 100 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHOP. Cantor Fitzgerald restated a "neutral" rating and issued a $120.00 target price on shares of Shopify in a research note on Wednesday, February 12th. Barclays increased 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. Phillip Securities lowered Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. Wedbush reiterated an "outperform" rating and issued a $125.00 target price on shares of Shopify in a report on Tuesday, February 11th. Finally, JMP Securities restated a "market outperform" rating and set a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. One investment 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $126.31.

Shopify Stock Up 2.3 %

Shares of Shopify stock traded up $2.16 on Tuesday, reaching $97.64. 10,301,385 shares of the stock were exchanged, compared to its average volume of 8,798,509. The business has a 50 day moving average price of $110.06 and a two-hundred day moving average price of $101.15. The firm has a market capitalization of $126.43 billion, a price-to-earnings ratio of 62.99, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

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

About Shopify

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.