Banque Transatlantique SA Buys New Holdings in Shopify Inc. (NYSE:SHOP)

Banque Transatlantique SA purchased a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,200 shares of the software maker's stock, valued at approximately $444,000.

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

Analyst Ratings Changes

A number of analysts recently commented on SHOP shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Scotiabank cut their price target on Shopify from $120.00 to $90.00 and set a "sector perform" rating for the company in a report on Monday, April 28th. UBS Group boosted their price objective on Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. New Street Research assumed coverage on Shopify in a research note on Friday, January 10th. They issued a "neutral" rating and a $115.00 target price for the company. Finally, BNP Paribas lowered Shopify from a "strong-buy" rating to a "hold" rating in a report on Monday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $116.00.

Shopify Trading Down 4.6 %

Shopify stock traded down $4.55 on Tuesday, hitting $93.83. 12,955,438 shares of the stock traded hands, compared to its average volume of 9,315,059. The firm has a market cap of $121.49 billion, a P/E ratio of 60.54, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The business's fifty day simple moving average is $94.07 and its 200 day simple moving average is $102.63.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly 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, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

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.