Vanguard Group Inc. Purchases 781,162 Shares of Shopify Inc. (NYSE:SHOP)

Vanguard Group Inc. lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing 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. owned approximately 3.64% of Shopify worth $5,010,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHOP. PFG Private Wealth Management LLC increased its stake in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the period. Brooklyn Investment Group bought a new stake in Shopify during the 3rd quarter valued at about $33,000. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the 4th quarter valued at about $39,000. Mather Group LLC. grew its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify during the third quarter worth approximately $45,000. 69.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SHOP shares. CIBC boosted their price target on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. DA Davidson lifted their price objective on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Benchmark raised shares of 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, New Street Research started coverage on shares of Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. One 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Up 5.0 %

SHOP opened at $109.41 on Tuesday. The firm has a 50 day moving average of $110.19 and a two-hundred day moving average of $100.01. The firm 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 Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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 net margin of 22.74% and a return on equity of 12.00%. As a group, 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.