Achmea Investment Management B.V. decreased its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 81.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,037 shares of the software maker's stock after selling 73,359 shares during the quarter. Achmea Investment Management B.V.'s holdings in Shopify were worth $1,812,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC acquired a new stake in shares of Shopify in the 4th quarter worth $132,323,000. Swiss National Bank boosted its position in shares of Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker's stock worth $293,507,000 after purchasing an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC boosted its position 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 purchasing an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake 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 worth $27,409,000 after acquiring an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker's stock worth $2,693,000 after acquiring an additional 7,027 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.
Wall Street Analyst Weigh In
SHOP has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their target price on Shopify from $135.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. UBS Group raised their target price on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. DA Davidson raised their target price on Shopify from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised their target price on Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, 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. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.31.
Get Our Latest Report on SHOP
Shopify Price Performance
Shares of Shopify stock opened at $94.88 on Friday. The stock has a market cap of $122.86 billion, a P/E ratio of 61.22, a P/E/G ratio of 4.82 and a beta of 2.60. The stock's 50 day simple moving average is $110.88 and its 200-day simple moving average is $98.43. 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 issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.
About Shopify
(
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.
Further Reading
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