Swiss National Bank Has $374.44 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Swiss National Bank cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,519,800 shares of the software maker’s stock after selling 138,000 shares during the quarter. Swiss National Bank’s holdings in Shopify were worth $374,435,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SHOP. Jennison Associates LLC bought a new stake in shares of Shopify in the fourth quarter valued at approximately $132,323,000. Watts Gwilliam & Co. LLC raised its stake in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after purchasing an additional 77,500 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after purchasing an additional 7,027 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its position in Shopify by 4.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SHOP. Morgan Stanley lifted their target price on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Robert W. Baird lifted their price objective on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. DA Davidson boosted their price objective on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. CIBC upped their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, KeyCorp lifted their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Performance

NYSE SHOP opened at $96.54 on Thursday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market capitalization of $125.00 billion, a P/E ratio of 62.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The stock has a fifty day moving average of $111.51 and a 200-day moving average of $98.34.

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 return on equity of 12.00% and a net margin of 22.74%. Equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.