Deutsche Bank AG lifted its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,928,870 shares of the software maker's stock after buying an additional 33,094 shares during the quarter. Deutsche Bank AG owned about 0.15% of Shopify worth $205,097,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of SHOP. Diker Management LLC lifted its stake in shares of Shopify by 25.0% in the fourth quarter. Diker Management LLC now owns 20,000 shares of the software maker's stock valued at $2,127,000 after buying an additional 4,000 shares in the last quarter. Durable Capital Partners LP boosted its position in Shopify by 86.9% in the fourth quarter. Durable Capital Partners LP now owns 3,950,348 shares of the software maker's stock worth $420,041,000 after purchasing an additional 1,836,294 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Shopify by 69.1% in the 4th quarter. CoreCap Advisors LLC now owns 2,959 shares of the software maker's stock worth $315,000 after buying an additional 1,209 shares during the last quarter. Castle Hook Partners LP purchased a new stake in Shopify during the fourth quarter worth about $111,928,000. Finally, Cetera Investment Advisers boosted its stake in Shopify by 3.8% in the fourth quarter. Cetera Investment Advisers now owns 258,786 shares of the software maker's stock valued at $27,517,000 after acquiring an additional 9,490 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a report on Monday, April 28th. Evercore ISI boosted their price target on shares of Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of Shopify from $106.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday. Cantor Fitzgerald reduced their price target on Shopify from $120.00 to $80.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Canaccord Genuity Group upped their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $115.37.
Check Out Our Latest Stock Report on SHOP
Shopify Trading Up 3.2%
Shares of Shopify stock traded up $3.34 during trading on Tuesday, hitting $107.68. 14,506,315 shares of the stock traded hands, compared to its average volume of 9,230,287. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock's fifty day simple moving average is $93.25 and its 200 day simple moving average is $103.23. The firm has a market cap of $139.43 billion, a P/E ratio of 69.47, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.
Shopify (NYSE:SHOP - Get Free Report) 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 analysts' consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, equities analysts expect that Shopify Inc. will post 1.12 EPS for the current year.
About Shopify
(
Free Report)
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.
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