Shopify Inc. (NYSE:SHOP) Position Lifted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 79.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,487,579 shares of the software maker’s stock after buying an additional 7,316,862 shares during the quarter. Shopify accounts for 1.4% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 6th largest position. Arrowstreet Capital Limited Partnership owned about 1.28% of Shopify worth $1,752,834,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allianz SE acquired a new position in shares of Shopify in the fourth quarter worth about $27,000. PFG Private Wealth Management LLC boosted its stake in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its position in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter worth approximately $33,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in Shopify in the fourth quarter valued at $39,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Down 5.9 %

SHOP stock opened at $96.51 on Friday. The company has a 50 day moving average of $110.21 and a two-hundred day moving average of $100.78. The company has a market cap of $124.96 billion, a price-to-earnings ratio of 62.27, 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 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%. On average, research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of recent analyst reports. Citigroup upped their target price on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. Robert W. Baird increased their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. New Street Research began coverage on shares of Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. Finally, Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Monday, February 10th. 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 stock. According to data from MarketBeat.com, the company 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.