250 Shares in Shopify Inc. (NYSE:SHOP) Bought by Allianz SE

Allianz SE bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 250 shares of the software maker’s stock, valued at approximately $27,000.

Other institutional investors have also recently bought and sold shares of the company. Biondo Investment Advisors LLC increased its holdings in shares of Shopify by 3.5% during the fourth quarter. Biondo Investment Advisors LLC now owns 28,824 shares of the software maker’s stock worth $3,065,000 after buying an additional 965 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Shopify by 100.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 6,840 shares of the software maker’s stock worth $727,000 after acquiring an additional 3,422 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Shopify by 2.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,170,866 shares of the software maker’s stock worth $230,852,000 after purchasing an additional 56,296 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Shopify by 3.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 57,051 shares of the software maker’s stock valued at $6,068,000 after purchasing an additional 1,664 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Shopify during the fourth quarter worth about $1,542,262,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NYSE:SHOP opened at $95.48 on Tuesday. The company has a market capitalization of $123.63 billion, a P/E ratio of 61.60, a P/E/G ratio of 4.82 and a beta of 2.60. The business has a fifty day simple moving average of $110.06 and a two-hundred day simple moving average of $101.15. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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 return on equity of 12.00% and a net margin of 22.74%. As a group, analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Royal Bank of Canada set a $145.00 price target on Shopify and gave the company an “outperform” rating in a research note on Friday, March 21st. Barclays boosted their price target on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Finally, Robert W. Baird lifted their target price on shares of Shopify from $126.00 to $135.00 and gave the stock 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 given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Company 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.