Durable Capital Partners LP Acquires 1,836,294 Shares of Shopify Inc. (NYSE:SHOP)

Durable Capital Partners LP boosted its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 86.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,950,348 shares of the software maker's stock after buying an additional 1,836,294 shares during the period. Shopify makes up approximately 3.4% of Durable Capital Partners LP's holdings, making the stock its 11th biggest holding. Durable Capital Partners LP owned 0.31% of Shopify worth $420,041,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allianz SE acquired a new stake in shares of Shopify during the fourth quarter worth $27,000. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify during the fourth quarter worth about $39,000. Finally, Mather Group LLC. grew its holdings in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after buying an additional 184 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SHOP shares. New Street Research initiated coverage on Shopify in a research report on Friday, January 10th. They set a "neutral" rating and a $115.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Mizuho cut their price target on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Benchmark decreased their price objective on Shopify from $150.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Morgan Stanley upped their target price on Shopify from $106.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $115.37.

Shopify Stock Performance

NYSE:SHOP traded down $2.23 during trading hours on Friday, reaching $91.77. The company's stock had a trading volume of 15,336,944 shares, compared to its average volume of 9,223,426. The firm has a 50-day simple moving average of $93.29 and a 200-day simple moving average of $102.73. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a market capitalization of $118.83 billion, a price-to-earnings ratio of 59.21, a PEG ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results 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%. Equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.