31,174 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Virtu Financial LLC

Virtu Financial LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 31,174 shares of the software maker's stock, valued at approximately $3,315,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its position in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock worth $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised 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 last quarter. National Bank of Canada FI raised 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 last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker's stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Shopify during the 4th quarter valued at about $132,323,000. Institutional investors and hedge funds own 69.27% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts recently commented on SHOP shares. Morgan Stanley raised their target price on Shopify from $126.00 to $144.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. CIBC upped their price objective on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Loop Capital raised shares of Shopify from a "hold" rating to a "buy" rating and lifted their target price for the company from $110.00 to $140.00 in a report on Friday, December 6th. Canaccord Genuity Group increased their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, ATB Capital lifted their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. One equities research 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 company. According to data from MarketBeat, Shopify has a consensus rating of "Moderate Buy" and an average price target of $126.31.

Shopify Stock Performance

Shares of NYSE SHOP traded down $5.50 during mid-day trading on Wednesday, reaching $104.32. 7,271,043 shares of the company's stock were exchanged, compared to its average volume of 8,603,408. The firm has a market capitalization of $135.07 billion, a price-to-earnings ratio of 67.30, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company's 50-day moving average is $110.36 and its 200-day moving average is $100.31.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.