Vanguard Group Inc. Purchases 781,162 Shares of Shopify Inc. (NYSE:SHOP)

Vanguard Group Inc. increased its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,080,112 shares of the software maker's stock after acquiring an additional 781,162 shares during the quarter. Vanguard Group Inc. owned about 3.64% of Shopify worth $5,010,721,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. PFG Private Wealth Management LLC lifted 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 buying an additional 256 shares during the period. Brooklyn Investment Group bought a new position in Shopify during the 3rd quarter worth approximately $33,000. New Wave Wealth Advisors LLC acquired a new position in Shopify during the fourth quarter valued at approximately $39,000. Mather Group LLC. grew its holdings in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after purchasing an additional 184 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Shopify in the third quarter worth $45,000. Institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SHOP shares. Citigroup raised their price objective on Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. The Goldman Sachs Group boosted their price objective on shares of Shopify from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Wedbush reaffirmed an "outperform" rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. TD Securities upped their target price on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Finally, Oppenheimer increased their price objective on Shopify from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.31.

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Shopify Stock Performance

Shares of Shopify stock traded down $6.34 on Wednesday, hitting $103.48. The company had a trading volume of 5,318,864 shares, compared to its average volume of 8,596,388. The stock has a market capitalization of $133.99 billion, a price-to-earnings ratio of 66.86, a P/E/G ratio of 4.82 and a beta of 2.60. The stock has a 50 day moving average of $110.36 and a 200-day moving average of $100.31. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. Equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

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.