Jones Financial Companies Lllp Increases Holdings in Shopify Inc. (NYSE:SHOP)

Jones Financial Companies Lllp increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 33.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,412 shares of the software maker’s stock after purchasing an additional 13,775 shares during the quarter. Jones Financial Companies Lllp’s holdings in Shopify were worth $5,786,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SHOP. Baillie Gifford & Co. increased its position in Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC boosted its stake in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Shopify by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after purchasing an additional 484,561 shares in the last quarter. National Bank of Canada FI raised its stake in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Shopify by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after purchasing an additional 471,280 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of analyst reports. Evercore ISI boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Oppenheimer increased their price target on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. New Street Research assumed coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Monday, February 10th. Finally, Citigroup lifted their price target on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Performance

NYSE:SHOP opened at $101.68 on Wednesday. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The business’s 50-day simple moving average is $112.65 and its 200 day simple moving average is $97.53. The stock has a market cap of $131.66 billion, a price-to-earnings ratio of 65.60, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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 research analysts predict that Shopify Inc. will post 1.12 EPS 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.