USS Investment Management Ltd Has $20.08 Million Stock Position in Shopify Inc. (NYSE:SHOP)

USS Investment Management Ltd grew its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188,936 shares of the software maker's stock after buying an additional 4,382 shares during the quarter. USS Investment Management Ltd's holdings in Shopify were worth $20,075,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SHOP. Capital World Investors lifted its holdings in Shopify by 0.9% during the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock worth $5,646,455,000 after buying an additional 496,982 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after acquiring an additional 781,162 shares during the last quarter. FMR LLC raised its position in shares of Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock valued at $4,653,054,000 after acquiring an additional 1,426,000 shares in the last quarter. Capital International Investors lifted its stake in Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after purchasing an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after purchasing an additional 7,316,862 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Down 1.7%

Shares of Shopify stock traded down $1.78 on Monday, hitting $101.51. 5,996,877 shares of the company traded hands, compared to its average volume of 9,476,353. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a market cap of $131.44 billion, a PE ratio of 65.49, a PEG ratio of 4.82 and a beta of 2.66. The company has a 50-day moving average price of $95.30 and a 200 day moving average price of $104.90.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several recent research reports. National Bankshares lowered their target price on shares of Shopify from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Wedbush reiterated an "outperform" rating and set a $110.00 price objective on shares of Shopify in a research note on Tuesday, April 15th. KeyCorp cut their target price on shares of Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Cantor Fitzgerald lowered their price objective on Shopify from $120.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Truist Financial cut their target price on Shopify from $120.00 to $100.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.37.

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.