By otakuyassine3@gmail.com 
Chevy Chase Trust Holdings LLC acquired a new stake in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,005 shares of the software maker’s stock, valued at approximately $213,000.
Other large investors have also bought and sold shares of the company. Jennison Associates LLC bought a new stake in Shopify during the 4th quarter valued at approximately $132,323,000. Swiss National Bank boosted its position in Shopify by 0.9% during the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after acquiring an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC boosted its position 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 acquiring an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position 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 worth $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares in the last quarter. 69.27% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on SHOP shares. DA Davidson boosted their price target on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their price target on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Robert W. Baird boosted their price target on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, Barclays boosted their price target on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. One investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $126.31.
Get Our Latest Stock Analysis on Shopify
Shopify Trading Up 0.7 %
Shares of Shopify stock opened at $129.20 on Wednesday. The company has a market capitalization of $166.94 billion, a P/E ratio of 120.75, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a fifty day moving average of $112.16 and a 200 day moving average of $93.70. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last released its quarterly earnings data 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 16.84% and a return on equity of 11.60%. On average, sell-side analysts anticipate that Shopify Inc. will post 0.91 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.
Further Reading
Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP).
Receive News & Ratings for Shopify Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Shopify and related companies with MarketBeat.com’s FREE daily email newsletter.