Shopify Inc. (NYSE:SHOP) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 467,025 shares of the software maker’s stock after purchasing an additional 9,819 shares during the quarter. Blair William & Co. IL’s holdings in Shopify were worth $49,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cerity Partners LLC grew its holdings in Shopify by 35.8% during the 3rd quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock worth $6,891,000 after acquiring an additional 22,667 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in shares of Shopify during the 3rd quarter valued at approximately $104,000. Dynamic Technology Lab Private Ltd bought a new position in Shopify during the third quarter worth $660,000. Brown Brothers Harriman & Co. acquired a new position in Shopify in the third quarter worth $274,000. Finally, Truvestments Capital LLC bought a new stake in Shopify during the third quarter valued at $45,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Down 1.6 %

Shares of Shopify stock opened at $102.64 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm has a market capitalization of $132.90 billion, a PE ratio of 66.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The stock’s fifty day moving average is $110.35 and its 200-day moving average is $100.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SHOP. Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. ATB Capital increased their price target on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Oppenheimer boosted their price objective on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. Finally, New Street Research started coverage on shares of Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. One research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Company 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.