Shopify Inc. (NYSE:SHOP) Shares Acquired by APG Asset Management US Inc.

APG Asset Management US Inc. lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 38,167 shares of the software maker’s stock after acquiring an additional 1,614 shares during the period. APG Asset Management US Inc.’s holdings in Shopify were worth $4,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP grew its position in Shopify by 47.0% in the 3rd quarter. Quantinno Capital Management LP now owns 38,951 shares of the software maker’s stock worth $3,122,000 after purchasing an additional 12,455 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Shopify by 26.3% during the third quarter. EP Wealth Advisors LLC now owns 12,496 shares of the software maker’s stock valued at $1,001,000 after purchasing an additional 2,602 shares during the period. Zacks Investment Management acquired a new stake in Shopify in the third quarter worth about $241,000. MML Investors Services LLC grew its position in Shopify by 3.1% in the 3rd quarter. MML Investors Services LLC now owns 168,277 shares of the software maker’s stock valued at $13,486,000 after buying an additional 5,105 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Shopify during the 3rd quarter worth about $33,676,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Canaccord Genuity Group lifted their price target on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. ATB Capital upped their price objective on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. Finally, Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. One 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

NYSE:SHOP opened at $77.09 on Wednesday. The firm’s 50-day simple moving average is $106.50 and its 200 day simple moving average is $101.41. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The firm has a market cap of $99.82 billion, a price-to-earnings ratio of 49.74, a P/E/G ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. Sell-side analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

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.