Fisher Asset Management LLC Acquires 19,804 Shares of Shopify Inc. (NYSE:SHOP)

Fisher Asset Management LLC lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 581,980 shares of the software maker’s stock after purchasing an additional 19,804 shares during the quarter. Fisher Asset Management LLC’s holdings in Shopify were worth $61,882,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Henry James International Management Inc. lifted its position in shares of Shopify by 5.1% in the fourth quarter. Henry James International Management Inc. now owns 156,637 shares of the software maker’s stock worth $16,655,000 after purchasing an additional 7,572 shares in the last quarter. SVB Wealth LLC bought a new stake in Shopify during the fourth quarter worth $563,000. Dynasty Wealth Management LLC raised its position in Shopify by 1.8% during the fourth quarter. Dynasty Wealth Management LLC now owns 31,001 shares of the software maker’s stock worth $3,296,000 after acquiring an additional 563 shares in the last quarter. QRG Capital Management Inc. raised its position in Shopify by 79.9% during the fourth quarter. QRG Capital Management Inc. now owns 5,104 shares of the software maker’s stock worth $543,000 after acquiring an additional 2,267 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Shopify by 11.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 320,834 shares of the software maker’s stock worth $34,114,000 after acquiring an additional 34,158 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SHOP. Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Canaccord Genuity Group upped their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research 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. Finally, New Street Research started coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 1.0 %

Shares of Shopify stock opened at $111.97 on Friday. The company has a market capitalization of $144.98 billion, a price-to-earnings ratio of 72.24, a PEG ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm’s 50-day moving average price is $112.88 and its two-hundred day moving average price is $96.94.

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

Shopify 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.