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Chevy Chase Trust Holdings LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,005 shares of the software maker’s stock, valued at approximately $213,000.
Several other hedge funds have also recently made changes to their positions in the business. First Merchants Corp raised its position in shares of Shopify by 9.3% during the 4th quarter. First Merchants Corp now owns 3,311 shares of the software maker’s stock valued at $352,000 after buying an additional 281 shares in the last quarter. Root Financial Partners LLC raised its position in shares of Shopify by 18.4% during the 4th quarter. Root Financial Partners LLC now owns 4,437 shares of the software maker’s stock valued at $472,000 after buying an additional 690 shares in the last quarter. SFE Investment Counsel purchased a new stake in shares of Shopify during the 4th quarter valued at about $229,000. McClarren Financial Advisors Inc. raised its position in Shopify by 225.0% in the 4th quarter. McClarren Financial Advisors Inc. now owns 520 shares of the software maker’s stock worth $55,000 after purchasing an additional 360 shares during the period. Finally, Naples Global Advisors LLC raised its position in Shopify by 22.2% in the 4th quarter. Naples Global Advisors LLC now owns 4,709 shares of the software maker’s stock worth $501,000 after purchasing an additional 855 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on SHOP. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Mizuho increased their price objective on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Piper Sandler increased their price objective on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, ATB Capital increased their price objective on shares of Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.
View Our Latest Analysis on SHOP
Shopify Price Performance
Shares of SHOP opened at $129.20 on Wednesday. The firm has a market capitalization of $166.94 billion, a PE ratio of 120.75, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company’s fifty day moving average price is $112.16 and its 200-day moving average price is $93.70.
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last announced its quarterly earnings data 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 net margin of 16.84% and a return on equity of 11.60%. On average, equities research analysts predict that Shopify Inc. will post 0.91 EPS for the current year.
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.
Further Reading
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