5,820 Shares in Shopify Inc. (NYSE:SHOP) Bought by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,820 shares of the software maker's stock, valued at approximately $619,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Norges Bank acquired a new position in Shopify during the fourth quarter worth $1,542,262,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after buying an additional 7,316,862 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Shopify by 631.3% in the 4th quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker's stock worth $474,187,000 after buying an additional 3,849,796 shares in the last quarter. Marshall Wace LLP grew its stake in Shopify by 623.8% in the 4th quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker's stock valued at $198,932,000 after acquiring an additional 2,228,091 shares during the last quarter. Finally, FIL Ltd grew its stake in Shopify by 11.9% in the 4th quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock valued at $1,678,865,000 after acquiring an additional 1,682,326 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Price Performance

SHOP opened at $97.12 on Monday. The stock has a market capitalization of $125.75 billion, a PE ratio of 62.66, a P/E/G ratio of 4.82 and a beta of 2.82. The firm's fifty day moving average price is $96.79 and its 200 day moving average price is $102.05. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. On average, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. UBS Group boosted their target price on shares of Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Morgan Stanley lowered their target price on shares of Shopify from $144.00 to $106.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Benchmark upgraded shares of Shopify from a "hold" rating to a "buy" rating and set a $150.00 target price for the company in a report on Monday, February 10th. Finally, ATB Capital boosted their target price on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $119.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.