Fmr LLC Increases Holdings in Shopify Inc. (NYSE:SHOP)

Fmr LLC grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,732,077 shares of the software maker’s stock after acquiring an additional 1,426,000 shares during the quarter. Fmr LLC owned about 3.38% of Shopify worth $4,653,054,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MIG Capital LLC acquired a new stake in shares of Shopify during the 4th quarter worth $333,000. Atika Capital Management LLC acquired a new stake in Shopify during the 4th quarter valued at $6,486,000. Russell Investments Group Ltd. increased its position in shares of Shopify by 1.9% during the fourth quarter. Russell Investments Group Ltd. now owns 1,438,704 shares of the software maker’s stock worth $153,027,000 after acquiring an additional 26,240 shares during the last quarter. Ted Buchan & Co acquired a new position in shares of Shopify in the fourth quarter worth about $1,311,000. Finally, Wedbush Securities Inc. boosted its holdings in Shopify by 1.0% in the fourth quarter. Wedbush Securities Inc. now owns 25,304 shares of the software maker’s stock valued at $2,691,000 after purchasing an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 6.6 %

Shares of SHOP opened at $76.89 on Friday. The business’s 50-day moving average price is $108.67 and its 200 day moving average price is $101.41. The stock has a market capitalization of $99.56 billion, a P/E ratio of 49.61, a P/E/G ratio of 4.82 and a beta of 2.81. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results 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 net margin of 22.74% and a return on equity of 12.00%. On average, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SHOP shares. Canaccord Genuity Group upped their target price on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. CIBC increased their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler boosted their target price on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $125.00 price target on shares of Shopify in a research report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

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.