Achmea Investment Management B.V. trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 81.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV boosted its stake in shares of Shopify by 4.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker's stock valued at $381,000 after purchasing an additional 209 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Shopify in the 3rd quarter valued at $1,011,000. Prime Capital Investment Advisors LLC boosted its stake in shares of Shopify by 1.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 13,801 shares of the software maker's stock valued at $1,106,000 after purchasing an additional 195 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Shopify by 5.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 6,059 shares of the software maker's stock valued at $486,000 after purchasing an additional 315 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in shares of Shopify by 257.9% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 3,758 shares of the software maker's stock valued at $301,000 after purchasing an additional 2,708 shares during the last quarter. 69.27% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Oppenheimer boosted their target price on shares of Shopify from $130.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. New Street Research assumed coverage on shares of Shopify in a research report on Friday, January 10th. They set a "neutral" rating and a $115.00 target price on the stock. Morgan Stanley boosted their target price on shares of Shopify from $126.00 to $144.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Truist Financial boosted their target price on shares of Shopify from $110.00 to $120.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $126.31.
View Our Latest Report on SHOP
Shopify Trading Up 4.7 %
Shares of Shopify stock traded up $4.29 on Friday, reaching $94.88. The stock had a trading volume of 7,060,413 shares, compared to its average volume of 8,555,211. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market cap of $122.86 billion, a P/E ratio of 61.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business's 50 day moving average is $110.88 and its two-hundred day moving average is $98.59.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly 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 return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts anticipate that Shopify Inc. will post 1.12 EPS 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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