Loomis Sayles & Co. L P Reduces Stock Position in Shopify Inc. (NYSE:SHOP)

Loomis Sayles & Co. L P trimmed its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,612,866 shares of the software maker’s stock after selling 470,344 shares during the quarter. Shopify comprises 167.9% of Loomis Sayles & Co. L P’s holdings, making the stock its 14th largest position. Loomis Sayles & Co. L P’s holdings in Shopify were worth $1,553,786,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AssuredPartners Investment Advisors LLC acquired a new position in Shopify in the 4th quarter worth approximately $299,000. Sava Infond d.o.o. acquired a new stake in shares of Shopify in the fourth quarter worth $117,000. Korea Investment CORP increased its stake in shares of Shopify by 0.6% in the fourth quarter. Korea Investment CORP now owns 1,003,030 shares of the software maker’s stock worth $106,695,000 after acquiring an additional 6,014 shares during the period. Mufg Securities Canada LTD. raised its holdings in shares of Shopify by 72.4% during the fourth quarter. Mufg Securities Canada LTD. now owns 1,852,031 shares of the software maker’s stock worth $196,984,000 after purchasing an additional 777,696 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE SHOP opened at $104.32 on Thursday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market capitalization of $135.07 billion, a P/E ratio of 67.30, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The stock’s fifty day moving average is $110.36 and its two-hundred day moving average is $100.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly 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%. As a group, sell-side analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $125.00 price objective on shares of Shopify in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their price target on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. TD Securities boosted their target price on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Finally, Barclays raised their price target on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.