Pictet Asset Management Holding SA Has $230.85 Million Holdings in Shopify Inc. (NYSE:SHOP)

Pictet Asset Management Holding SA lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,170,866 shares of the software maker’s stock after purchasing an additional 56,296 shares during the quarter. Pictet Asset Management Holding SA owned 0.17% of Shopify worth $230,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC bought a new position in shares of Shopify during the 4th quarter worth about $132,323,000. Watts Gwilliam & Co. LLC boosted its holdings in Shopify by 53.0% during the fourth 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 in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of 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. Wahed Invest LLC raised its holdings in shares of Shopify by 18.4% in the 3rd quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock worth $4,618,000 after buying an additional 8,960 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Shopify in the 3rd quarter valued at $33,676,000. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their price target on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. TD Securities lifted their price objective on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Wedbush restated an “outperform” rating and set a $125.00 target price on shares of Shopify in a report on Tuesday, February 11th. Piper Sandler lifted their price target on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley increased their price objective on shares of Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One investment 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 stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Down 1.6 %

NYSE:SHOP opened at $102.64 on Friday. The stock has a market capitalization of $132.90 billion, a PE ratio of 66.22, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a fifty day simple moving average of $110.35 and a 200 day simple moving average of $100.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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%. On average, equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.