American Century Companies Inc. Acquires 16,619 Shares of Shopify Inc. (NYSE:SHOP)

American Century Companies Inc. raised its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,463,559 shares of the software maker's stock after purchasing an additional 16,619 shares during the period. American Century Companies Inc. owned 0.11% of Shopify worth $155,653,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PFG Private Wealth Management LLC raised its stake in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after buying an additional 256 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Shopify during the 4th quarter worth about $39,000. Mather Group LLC. boosted its position in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after purchasing an additional 184 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify during the 3rd quarter worth approximately $33,000. Finally, Sierra Ocean LLC bought a new stake in shares of Shopify in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Down 5.0 %

Shopify stock traded down $5.50 during trading on Wednesday, hitting $104.32. The stock had a trading volume of 7,271,043 shares, compared to its average volume of 8,623,499. The stock's 50 day moving average is $110.36 and its two-hundred day moving average is $100.34. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a market cap of $135.07 billion, a price-to-earnings ratio of 67.30, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the subject of several research analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Shopify in a research note on Tuesday, February 11th. Royal Bank of Canada set a $145.00 price target on Shopify and gave the stock an "outperform" rating in a research note on Friday, March 21st. TD Securities increased their price target on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Scotiabank boosted their price objective on Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Finally, Barclays upped their target price on Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 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 issued a strong buy rating to the company. Based on data from MarketBeat, Shopify has an average rating of "Moderate Buy" and a consensus price target of $126.31.

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.