Shopify Inc. (NYSE:SHOP) Shares Acquired by Korea Investment CORP

Korea Investment CORP boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,003,030 shares of the software maker’s stock after purchasing an additional 6,014 shares during the quarter. Korea Investment CORP owned about 0.08% of Shopify worth $106,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Vanguard Group Inc. grew its position in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after purchasing an additional 781,162 shares during the period. National Bank of Canada FI grew its holdings in Shopify by 28.0% in the 3rd 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. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Shopify by 30.2% during the 4th 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 acquiring an additional 1,647,374 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Shopify by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after acquiring an additional 471,280 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Shopify by 8.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,788,762 shares of the software maker’s stock worth $223,391,000 after acquiring an additional 220,498 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $104.32 on Thursday. The stock has a market capitalization of $135.07 billion, a price-to-earnings ratio of 67.30, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company has a 50 day moving average price of $110.36 and a 200 day moving average price of $100.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its 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, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Robert W. Baird increased their target price on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. DA Davidson boosted their price target on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Scotiabank lifted their price objective on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI increased their target price on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given 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 target price of $126.31.

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.