Shopify Inc. (NYSE:SHOP) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,080,112 shares of the software maker’s stock after buying an additional 781,162 shares during the quarter. Vanguard Group Inc.’s holdings in Shopify were worth $5,010,721,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Great Valley Advisor Group Inc. grew its holdings in Shopify by 16.2% in the third quarter. Great Valley Advisor Group Inc. now owns 13,966 shares of the software maker’s stock valued at $1,119,000 after purchasing an additional 1,952 shares during the period. Cerity Partners LLC grew its stake in Shopify by 35.8% in the 3rd quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock valued at $6,891,000 after acquiring an additional 22,667 shares during the period. Centaurus Financial Inc. acquired a new stake in Shopify in the 3rd quarter valued at $104,000. Douglass Winthrop Advisors LLC increased its holdings in Shopify by 3.1% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 19,652 shares of the software maker’s stock worth $1,575,000 after acquiring an additional 597 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Shopify during the third quarter worth $660,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SHOP. Jefferies Financial Group boosted their target price on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, February 18th. Piper Sandler increased their target price on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Canaccord Genuity Group raised their target price on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Finally, Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Up 5.0 %

SHOP stock opened at $109.41 on Tuesday. The business’s fifty day moving average price is $110.19 and its 200 day moving average price is $100.01. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a market capitalization of $141.67 billion, a PE ratio of 70.59, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results 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%. Research analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Company 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.