61,155 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 61,155 shares of the software maker’s stock, valued at approximately $6,503,000.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Shopify by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after purchasing an additional 484,561 shares during the period. National Bank of Canada FI lifted its holdings in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after acquiring an additional 1,621,981 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Shopify by 30.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after buying an additional 1,647,374 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after purchasing an additional 471,280 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shopify stock opened at $104.29 on Friday. The firm has a market cap of $135.04 billion, a PE ratio of 67.29, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm’s 50 day moving average price is $110.04 and its two-hundred day moving average price is $99.33.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. Equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SHOP shares. Wells Fargo & Company increased their price target on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. TD Securities lifted their price target on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Friday, December 6th. JMP Securities restated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. Finally, Evercore ISI boosted their price target on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify 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.