Shopify (NYSE:SHOP) Trading Down 0.2% - Here's What Happened

Shares of Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP traded down 0.2% on Monday . The company traded as low as $110.76 and last traded at $111.72. 1,523,975 shares were traded during trading, a decline of 80% from the average session volume of 7,789,879 shares. The stock had previously closed at $112.00.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SHOP shares. New Street Research initiated coverage on Shopify in a research report on Friday, January 10th. They issued a "neutral" rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Shopify from $121.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. ATB Capital increased their price target on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Mizuho upped their target price on shares of Shopify from $68.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada upped their target price on shares of Shopify from $130.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. One 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $126.31.

Shopify Trading Down 1.3 %

The company's 50 day moving average price is $112.57 and its two-hundred day moving average price is $97.59. The stock has a market cap of $135.71 billion, a P/E ratio of 67.70, a PEG ratio of 4.82 and a beta of 2.47.

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 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, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Several institutional investors have recently bought and sold shares of SHOP. Baillie Gifford & Co. boosted its stake in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker's stock worth $5,078,176,000 after buying an additional 8,131,160 shares during the last quarter. Capital World Investors boosted its position in shares of Shopify by 0.9% during the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock valued at $5,646,455,000 after acquiring an additional 496,982 shares during the last quarter. Vanguard Group Inc. raised its position in 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 purchasing an additional 781,162 shares during the period. FMR LLC increased its stake in Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after purchasing an additional 1,426,000 shares during the period. Finally, Capital International Investors grew its stake in 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 purchasing an additional 968,026 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.