TD Waterhouse Canada Inc. Boosts Stock Position in Shopify Inc. (NYSE:SHOP)

TD Waterhouse Canada Inc. raised its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 570,130 shares of the software maker's stock after acquiring an additional 152,159 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Shopify were worth $60,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital World Investors lifted its stake in Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock valued at $5,646,455,000 after purchasing an additional 496,982 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after buying an additional 781,162 shares during the period. FMR LLC lifted its position in shares of Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock valued at $4,653,054,000 after buying an additional 1,426,000 shares during the last quarter. Capital International Investors grew its stake in shares of Shopify by 2.7% during the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after acquiring an additional 968,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 5.0 %

Shares of SHOP traded up $4.07 during trading hours on Tuesday, hitting $85.71. The company had a trading volume of 8,591,808 shares, compared to its average volume of 9,238,109. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock's 50 day moving average price is $98.84 and its 200 day moving average price is $101.66. The firm has a market cap of $110.98 billion, a P/E ratio of 55.30, a P/E/G ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings results 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, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on SHOP shares. Canaccord Genuity Group upped their price objective on shares of Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. UBS Group upped 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. Barclays lifted their price objective on shares of Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. DA Davidson dropped their target price on Shopify from $150.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price target on Shopify from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Shopify presently has an average rating of "Moderate Buy" and a consensus target price of $120.37.

Shopify 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.