Shopify Inc. (NYSE:SHOP) Stock Holdings Lifted by Scotia Capital Inc.

Scotia Capital Inc. boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,117,479 shares of the software maker’s stock after purchasing an additional 42,253 shares during the quarter. Scotia Capital Inc.’s holdings in Shopify were worth $118,566,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Shopify during the 4th quarter worth approximately $1,542,262,000. Arrowstreet Capital Limited Partnership raised its position in shares of Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after purchasing an additional 7,316,862 shares during the period. Alliancebernstein L.P. grew its stake in Shopify by 631.3% in the 4th quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock valued at $474,187,000 after purchasing an additional 3,849,796 shares during the period. FIL Ltd grew its stake in shares of Shopify by 11.9% during the 4th quarter. FIL Ltd now owns 15,774,148 shares of the software maker’s stock worth $1,678,865,000 after acquiring an additional 1,682,326 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Shopify by 30.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after acquiring an additional 1,647,374 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 18.6 %

Shares of Shopify stock opened at $91.40 on Thursday. The business’s fifty day moving average is $105.44 and its two-hundred day moving average is $101.42. The firm has a market cap of $118.35 billion, a PE ratio of 58.97, a P/E/G ratio of 4.82 and a beta of 2.82. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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 research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial upped their price target on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. UBS Group lifted their price target on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. TD Securities upped their price target on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Finally, New Street Research started coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective on the stock. One investment 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 given a strong buy rating to the company. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $126.31.

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.