Shopify Inc. (NYSE:SHOP) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,592,154 shares of the software maker’s stock after purchasing an additional 39,429 shares during the quarter. AGF Management Ltd. owned 0.12% of Shopify worth $169,497,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SHOP. PFG Private Wealth Management LLC increased its position in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the period. Brooklyn Investment Group bought a new position in Shopify during the third quarter valued at about $33,000. New Wave Wealth Advisors LLC acquired a new position in Shopify during the fourth quarter worth about $39,000. Mather Group LLC. raised its position in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Shopify in the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $92.49 on Tuesday. The stock has a market capitalization of $119.76 billion, a PE ratio of 59.67, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The company has a 50 day moving average price of $111.97 and a 200 day moving average price of $98.24. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHOP. Robert W. Baird increased their target price on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Citigroup raised their price objective on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Truist Financial boosted their price objective on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price 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.