BNP Paribas Acquires 6,792 Shares of Shopify Inc. (NYSE:SHOP)

BNP Paribas grew its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 297.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,076 shares of the software maker's stock after acquiring an additional 6,792 shares during the quarter. BNP Paribas' holdings in Shopify were worth $965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Aptus Capital Advisors LLC grew its stake in shares of Shopify by 48.6% during the fourth quarter. Aptus Capital Advisors LLC now owns 9,004 shares of the software maker's stock worth $957,000 after buying an additional 2,945 shares during the last quarter. All Terrain Financial Advisors LLC purchased a new stake in shares of Shopify in the fourth quarter worth approximately $248,000. Blue Rock Wealth Management LLC purchased a new position in shares of Shopify in the 4th quarter worth approximately $659,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Shopify by 2.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 49,442 shares of the software maker's stock worth $5,257,000 after acquiring an additional 1,372 shares in the last quarter. Finally, Keel Point LLC grew its stake in Shopify by 14.2% during the fourth quarter. Keel Point LLC now owns 3,020 shares of the software maker's stock valued at $321,000 after acquiring an additional 375 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 0.3 %

SHOP stock traded down $0.24 during trading on Thursday, reaching $94.26. 36,442,922 shares of the stock were exchanged, compared to its average volume of 9,241,247. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm's 50 day moving average is $93.73 and its 200 day moving average is $102.58. The firm has a market cap of $122.05 billion, a P/E ratio of 60.81, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Thursday, May 8th. The software maker reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.79). Shopify had a net margin of 22.74% and a return on equity of 12.00%. During the same period in the previous year, the business earned $0.20 earnings per share. The company's quarterly revenue was up 26.8% on a year-over-year basis. As a group, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the subject of a number of recent research reports. National Bankshares lowered their price objective on shares of Shopify from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Friday, April 25th. The Goldman Sachs Group reduced their price objective on Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley lowered their target price on Shopify from $144.00 to $106.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Phillip Securities lowered Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. Finally, Piper Sandler increased their price objective on Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.00.

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.