Mitsubishi UFJ Trust & Banking Corp Has $103.72 Million Stake in Shopify Inc. (NYSE:SHOP)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 975,362 shares of the software maker’s stock after buying an additional 40,588 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Shopify worth $103,718,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Great Valley Advisor Group Inc. lifted its stake in Shopify by 16.2% during the third quarter. Great Valley Advisor Group Inc. now owns 13,966 shares of the software maker’s stock worth $1,119,000 after purchasing an additional 1,952 shares during the period. Cerity Partners LLC raised its holdings in shares of Shopify by 35.8% in the 3rd quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock worth $6,891,000 after buying an additional 22,667 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Shopify during the 3rd quarter worth approximately $104,000. Douglass Winthrop Advisors LLC boosted its stake in Shopify by 3.1% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 19,652 shares of the software maker’s stock valued at $1,575,000 after buying an additional 597 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Shopify in the third quarter valued at $660,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHOP. Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. DA Davidson lifted their price target on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Barclays raised their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their price objective on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $140.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Price Performance

NYSE SHOP opened at $109.41 on Tuesday. The business has a fifty day moving average price of $110.19 and a two-hundred day moving average price of $100.01. The stock has a market capitalization of $141.67 billion, a PE ratio of 70.59, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 return on equity of 12.00% and a net margin of 22.74%. As a group, sell-side analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

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.