Shopify Inc. (NYSE:SHOP) Stock Position Lifted by Fmr LLC

Fmr LLC boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.4% in the fourth quarter, Holdings Channel reports. 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’s holdings in Shopify were worth $4,653,054,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SHOP. Integrated Wealth Concepts LLC lifted its holdings in shares of Shopify by 2.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 32,078 shares of the software maker’s stock valued at $2,571,000 after buying an additional 655 shares during the last quarter. IHT Wealth Management LLC increased its stake in shares of Shopify by 13.6% during the 3rd quarter. IHT Wealth Management LLC now owns 8,472 shares of the software maker’s stock worth $678,000 after purchasing an additional 1,011 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Shopify by 1.6% during the 3rd quarter. Royal London Asset Management Ltd. now owns 329,882 shares of the software maker’s stock valued at $26,437,000 after purchasing an additional 5,108 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Shopify by 47.0% in the 3rd quarter. Quantinno Capital Management LP now owns 38,951 shares of the software maker’s stock valued at $3,122,000 after purchasing an additional 12,455 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in Shopify by 26.3% in the third quarter. EP Wealth Advisors LLC now owns 12,496 shares of the software maker’s stock worth $1,001,000 after purchasing an additional 2,602 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 6.6 %

Shares of NYSE SHOP opened at $76.89 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm’s 50-day simple moving average is $108.67 and its 200 day simple moving average is $101.41. The company has a market cap of $99.56 billion, a price-to-earnings ratio of 49.61, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SHOP shares. Wells Fargo & Company raised their target price on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Canaccord Genuity Group increased their price target on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Evercore ISI boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.