Spahn Wealth & Retirement LLC acquired a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,013 shares of the software maker's stock, valued at approximately $746,000. Shopify makes up 0.5% of Spahn Wealth & Retirement LLC's investment portfolio, making the stock its 22nd largest position.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. Vanguard Group Inc. boosted 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 acquiring an additional 781,162 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares during the period. Norges Bank bought a new position in shares of Shopify during the fourth quarter valued at $1,542,262,000. National Bank of Canada FI lifted its holdings in shares of 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 worth $593,588,000 after purchasing an additional 1,621,981 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Shopify by 30.2% during 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. 69.27% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Wedbush reaffirmed an "outperform" rating and issued a $125.00 price objective on shares of Shopify in a research note on Tuesday, February 11th. Scotiabank lifted their target price on shares of Shopify from $115.00 to $120.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. UBS Group boosted their target price on shares of Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, Evercore ISI increased their price target on Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a 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's stock. According to MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and an average price target of $126.31.
Check Out Our Latest Stock Report on Shopify
Shopify Stock Down 6.6 %
SHOP traded down $5.40 during trading on Friday, hitting $76.89. 29,669,766 shares of the company traded hands, compared to its average volume of 8,981,941. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The stock's fifty day moving average is $108.67 and its 200 day moving average is $101.22. The firm has a market cap of $99.56 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released 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, equities research analysts forecast 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.
Recommended Stories
Before you consider Shopify, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shopify wasn't on the list.
While Shopify currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
