AIA Group Ltd Purchases 9,959 Shares of Shopify Inc. (NYSE:SHOP)

AIA Group Ltd lifted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,322 shares of the software maker’s stock after buying an additional 9,959 shares during the period. AIA Group Ltd’s holdings in Shopify were worth $17,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allianz SE acquired a new stake in shares of Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC grew its position in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% during the 4th 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 in the last quarter. Brooklyn Investment Group bought a new position in Shopify in the 3rd quarter valued at $33,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Shopify in the fourth quarter worth $39,000. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SHOP shares. Oppenheimer lifted their price target on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. The Goldman Sachs Group increased their price target on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Benchmark upgraded 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. Royal Bank of Canada set a $145.00 price objective on Shopify and gave the company an “outperform” rating in a research report on Friday, March 21st. Finally, CIBC upped their price target on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Down 5.9 %

NYSE SHOP opened at $96.51 on Monday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm’s 50 day moving average is $110.21 and its 200-day moving average is $100.98. The company has a market capitalization of $124.96 billion, a PE ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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 return on equity of 12.00% and a net margin of 22.74%. As a group, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current 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.