Stifel Financial Corp Purchases 6,964 Shares of Shopify Inc. (NYSE:SHOP)

Stifel Financial Corp lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 363,685 shares of the software maker’s stock after buying an additional 6,964 shares during the period. Stifel Financial Corp’s holdings in Shopify were worth $38,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SHOP. Capital World Investors boosted its stake in shares of Shopify by 0.9% during the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock worth $5,646,455,000 after acquiring an additional 496,982 shares during the last quarter. Vanguard Group Inc. raised its holdings in Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after purchasing an additional 781,162 shares during the period. FMR LLC lifted its position in Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock valued at $4,653,054,000 after purchasing an additional 1,426,000 shares in the last quarter. Capital International Investors grew its holdings in Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after purchasing an additional 968,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP stock opened at $91.00 on Thursday. The company has a market cap of $117.83 billion, a price-to-earnings ratio of 58.71, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. The stock’s fifty day moving average price is $98.10 and its 200 day moving average price is $101.59. 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 earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. CIBC lifted their price objective on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Piper Sandler upped their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.66.

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.