Shopify Inc. (NYSE:SHOP) Shares Bought by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 34.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 168,651 shares of the software maker’s stock after buying an additional 43,333 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Shopify were worth $17,005,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its holdings in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares during the period. FMR LLC grew its holdings in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. National Bank of Canada FI increased its position in Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Shopify by 52.5% in 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 buying an additional 1,325,350 shares during the period. Finally, Jennison Associates LLC acquired a new position in Shopify during the fourth quarter valued at approximately $132,323,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SHOP shares. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. TD Securities raised their price objective on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Oppenheimer raised their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Performance

Shopify stock opened at $106.40 on Thursday. The firm has a market cap of $137.77 billion, a price-to-earnings ratio of 68.65, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm’s 50 day moving average price is $112.57 and its two-hundred day moving average price is $97.59.

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%. As a group, equities analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.