Good Life Advisors LLC Has $2.17 Million Position in Shopify Inc. (NYSE:SHOP)

Good Life Advisors LLC lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,431 shares of the software maker’s stock after selling 645 shares during the quarter. Good Life Advisors LLC’s holdings in Shopify were worth $2,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. FMR LLC increased its stake in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after buying an additional 484,561 shares during the period. National Bank of Canada FI increased its stake in shares of Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Shopify by 9.6% in the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after buying an additional 471,280 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 0.7 %

Shares of SHOP opened at $129.20 on Wednesday. The company has a market capitalization of $166.94 billion, a price-to-earnings ratio of 83.35, a PEG ratio of 5.06 and a beta of 2.47. The stock has a 50 day moving average of $112.48 and a 200 day moving average of $94.23. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities research analysts predict that Shopify Inc. will post 1.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SHOP shares. Morgan Stanley increased their price target on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Mizuho increased their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. UBS Group upped their target price on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Moffett Nathanson upped their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, DA Davidson upped their target price on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $126.31.

About Shopify

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.