1,763 Shares in Shopify Inc. (NYSE:SHOP) Bought by Facet Wealth Inc.

Facet Wealth Inc. bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,763 shares of the software maker’s stock, valued at approximately $207,000.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its holdings in Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Shopify by 30.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after purchasing an additional 1,647,374 shares in the last quarter. National Bank of Canada FI grew its position in shares of Shopify by 28.0% during 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 purchasing an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Shopify by 52.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Shopify during the fourth quarter valued at about $132,323,000. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SHOP shares. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Moffett Nathanson lifted their price target on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price target on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. New Street Research assumed coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. Finally, Citigroup boosted their target price on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fifteen have given 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 data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Up 4.7 %

Shares of SHOP stock opened at $94.88 on Monday. The business’s fifty day simple moving average is $110.88 and its 200-day simple moving average is $98.78. The company has a market cap of $122.86 billion, a PE ratio of 61.22, a PEG ratio of 4.82 and a beta of 2.60. 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current 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.