UniSuper Management Pty Ltd Has $2.47 Million Stock Position in Shopify Inc. (NYSE:SHOP)

UniSuper Management Pty Ltd reduced its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,200 shares of the software maker's stock after selling 11,966 shares during the quarter. UniSuper Management Pty Ltd's holdings in Shopify were worth $2,467,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Shopify by 30.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker's stock worth $754,201,000 after purchasing an additional 1,647,374 shares during the period. National Bank of Canada FI lifted its position in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker's stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Shopify in the 4th quarter worth $132,323,000. Congress Asset Management Co. purchased a new position in Shopify in the fourth quarter worth $84,074,000. Finally, Vanguard Group Inc. raised its holdings in shares of Shopify by 1.7% during the 4th 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 in the last quarter. Institutional investors own 69.27% of the company's stock.

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Shopify Stock Down 1.2 %

Shopify stock traded down $1.20 during mid-day trading on Monday, reaching $95.48. The company had a trading volume of 15,797,961 shares, compared to its average volume of 8,792,537. The firm has a market cap of $123.63 billion, a price-to-earnings ratio of 61.60, a PEG ratio of 4.82 and a beta of 2.60. The company has a 50 day moving average of $110.21 and a 200-day moving average of $100.98. Shopify Inc. has a 52 week low of $48.56 and a 52 week 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 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%. On average, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. New Street Research initiated coverage on shares of Shopify in a report on Friday, January 10th. They issued a "neutral" rating and a $115.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. TD Securities lifted their target price on shares of Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Finally, JMP Securities restated a "market outperform" rating and issued a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. One 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $126.31.

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.