Shopify Inc. (NYSE:SHOP) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,060 shares of the software maker’s stock after buying an additional 704 shares during the period. Whittier Trust Co.’s holdings in Shopify were worth $405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors grew its stake in Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after purchasing an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares during the last quarter. GQG Partners LLC raised its holdings in Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors boosted its stake in Shopify by 3.4% during the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after acquiring an additional 542,503 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP opened at $79.65 on Thursday. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The stock has a market capitalization of $102.64 billion, a P/E ratio of 81.28, a P/E/G ratio of 2.77 and a beta of 2.36. The firm’s 50 day moving average is $76.94 and its 200-day moving average is $69.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. Equities research analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler restated a “neutral” rating and set a $67.00 price objective on shares of Shopify in a research note on Thursday, August 29th. UBS Group increased their target price on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 price target on shares of Shopify in a report on Monday, October 7th. Finally, Wedbush restated a “neutral” rating and set a $72.00 price objective (up from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.36.

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.