Mufg Securities Canada LTD. Acquires 777,696 Shares of Shopify Inc. (NYSE:SHOP)

Mufg Securities Canada LTD. grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 72.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,852,031 shares of the software maker’s stock after purchasing an additional 777,696 shares during the quarter. Shopify accounts for about 7.1% of Mufg Securities Canada LTD.’s holdings, making the stock its 3rd biggest holding. Mufg Securities Canada LTD. owned about 0.14% of Shopify worth $196,984,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SHOP. Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Shopify during the fourth quarter worth approximately $160,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Shopify by 4.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 975,362 shares of the software maker’s stock valued at $103,718,000 after acquiring an additional 40,588 shares in the last quarter. Keystone Investors PTE Ltd. purchased a new position in Shopify in the fourth quarter worth approximately $2,049,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Shopify during the 4th quarter worth approximately $252,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SHOP shares. TD Securities raised their price objective on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. New Street Research started coverage on shares of Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Jefferies Financial Group boosted their price target on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 18th. Barclays lifted their target price on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Moffett Nathanson upped their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Performance

SHOP stock opened at $109.93 on Wednesday. The stock has a 50-day simple moving average of $110.36 and a 200-day simple moving average of $100.31. The firm has a market cap of $142.34 billion, a P/E ratio of 70.92, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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 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.