Shopify Inc. (NYSE:SHOP) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 149.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,108 shares of the software maker's stock after buying an additional 131,699 shares during the quarter. Thrivent Financial for Lutherans' holdings in Shopify were worth $23,182,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PFG Private Wealth Management LLC boosted its stake in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify in the 3rd quarter worth $33,000. New Wave Wealth Advisors LLC purchased a new position in Shopify during the 4th quarter worth $39,000. Mather Group LLC. grew its stake in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in Shopify during the 3rd quarter valued at about $45,000. Institutional investors own 69.27% of the company's stock.

Shopify Trading Up 0.6 %

SHOP traded up $0.65 on Tuesday, hitting $109.93. 5,749,000 shares of the company's stock were exchanged, compared to its average volume of 8,608,385. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock has a market cap of $142.34 billion, a price-to-earnings ratio of 70.92, a P/E/G ratio of 4.82 and a beta of 2.60. The firm has a 50-day moving average price of $110.19 and a 200-day moving average price of $100.01.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly 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, equities analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Shopify from $126.00 to $144.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Moffett Nathanson boosted their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Wedbush reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Shopify in a report on Tuesday, February 11th. Royal Bank of Canada set a $145.00 price objective on shares of Shopify and gave the company an "outperform" rating in a report on Friday. Finally, Loop Capital upgraded Shopify from a "hold" rating to a "buy" rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $126.31.

Shopify 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.