Banco Santander S.A. Grows Stock Position in Shopify Inc. (NYSE:SHOP)

Banco Santander S.A. increased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 76,954 shares of the software maker’s stock after purchasing an additional 4,777 shares during the period. Banco Santander S.A.’s holdings in Shopify were worth $8,183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PFG Private Wealth Management LLC raised its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Shopify in the fourth quarter valued at $39,000. Mather Group LLC. grew its position in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter valued at $33,000. Finally, Sierra Ocean LLC purchased a new stake in Shopify in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NYSE SHOP opened at $100.00 on Friday. The stock has a market capitalization of $129.48 billion, a PE ratio of 64.52, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a 50 day moving average price of $112.26 and a 200 day moving average price of $97.96.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. As a group, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their target price 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. Scotiabank raised their price objective on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. TD Securities raised their target price on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group raised their price target on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley lifted their target price on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned 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 target price of $126.31.

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.