Shopify Inc. (NYSE:SHOP) Shares Bought by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 87,290 shares of the software maker’s stock after purchasing an additional 10,154 shares during the period. Shopify accounts for about 1.8% of Capital Group Investment Management PTE. LTD.’s holdings, making the stock its 12th biggest holding. Capital Group Investment Management PTE. LTD.’s holdings in Shopify were worth $9,282,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SHOP. Capital International Investors raised its holdings in Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock worth $3,883,039,000 after purchasing an additional 968,026 shares during the last quarter. Capital International Sarl raised its position in Shopify by 18.7% during the fourth quarter. Capital International Sarl now owns 587,487 shares of the software maker’s stock worth $62,467,000 after acquiring an additional 92,608 shares during the last quarter. Fairfield Bush & CO. lifted its holdings in shares of Shopify by 6.0% in the fourth quarter. Fairfield Bush & CO. now owns 22,009 shares of the software maker’s stock valued at $2,340,000 after purchasing an additional 1,254 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Shopify by 10.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,420,836 shares of the software maker’s stock valued at $469,911,000 after purchasing an additional 423,000 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Shopify during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SHOP. Barclays upped their target price on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Piper Sandler increased their price objective on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Mizuho dropped their price objective on Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday. Scotiabank upped their target price on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, ATB Capital lifted their price target on shares of Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.94.

Shopify Stock Performance

SHOP stock opened at $83.65 on Friday. The firm has a market cap of $108.31 billion, a P/E ratio of 53.97, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a 50-day simple moving average of $101.26 and a 200-day simple moving average of $101.43.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. On average, equities research analysts predict that Shopify Inc. will post 1.12 EPS 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.