Capital Group Private Client Services Inc. Has $5.39 Million Position in Shopify Inc. (NYSE:SHOP)

Capital Group Private Client Services Inc. lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,659 shares of the software maker’s stock after selling 5,706 shares during the period. Capital Group Private Client Services Inc.’s holdings in Shopify were worth $5,387,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Shopify during the fourth quarter worth $1,542,262,000. Arrowstreet Capital Limited Partnership increased its position in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Shopify by 631.3% in the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock worth $474,187,000 after acquiring an additional 3,849,796 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Shopify by 623.8% during the fourth quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker’s stock worth $198,932,000 after purchasing an additional 2,228,091 shares in the last quarter. Finally, FIL Ltd grew its stake in shares of Shopify by 11.9% during the fourth quarter. FIL Ltd now owns 15,774,148 shares of the software maker’s stock valued at $1,678,865,000 after purchasing an additional 1,682,326 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.4 %

SHOP opened at $83.65 on Friday. The stock’s fifty day simple moving average is $100.46 and its 200 day simple moving average is $101.46. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock has a market cap of $108.31 billion, a PE ratio of 53.97, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. Equities analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on SHOP. Truist Financial upped their price objective on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. The Goldman Sachs Group boosted their price objective on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their target price on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group boosted their price target on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.94.

About Shopify

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.