Vanguard Group Inc. raised its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 47,962,280 shares of the software maker's stock after acquiring an additional 882,168 shares during the period. Vanguard Group Inc. owned approximately 3.70% of Shopify worth $4,563,106,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in SHOP. Capital World Investors boosted its position in shares of Shopify by 0.9% in 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 in the last quarter. Capital International Investors grew its holdings in Shopify by 2.7% in the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock valued at $3,883,039,000 after buying an additional 968,026 shares during the period. Mackenzie Financial Corp grew its holdings in Shopify by 19.7% in the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker's stock valued at $822,745,000 after purchasing an additional 1,426,406 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Shopify by 21.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker's stock valued at $539,382,000 after buying an additional 979,598 shares during the period. Finally, Jennison Associates LLC grew its position in Shopify by 324.3% during the first quarter. Jennison Associates LLC now owns 5,280,781 shares of the software maker's stock valued at $504,209,000 after acquiring an additional 4,036,326 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.
Shopify Stock Down 2.5%
NYSE:SHOP opened at $151.07 on Friday. The stock has a fifty day simple moving average of $116.61 and a 200 day simple moving average of $107.55. The firm has a market capitalization of $196.00 billion, a price-to-earnings ratio of 97.47, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 1-year low of $63.91 and a 1-year high of $156.85.
Analyst Ratings Changes
Several research firms have recently issued reports on SHOP. Stifel Nicolaus increased their price objective on shares of Shopify from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Thursday. Arete reaffirmed a "neutral" rating on shares of Shopify in a research report on Wednesday, July 23rd. Truist Financial increased their price target on shares of Shopify from $95.00 to $150.00 and gave the stock a "hold" rating in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on Shopify from $115.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Robert W. Baird lifted their target price on Shopify from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Shopify presently has an average rating of "Moderate Buy" and a consensus target price of $143.69.
Check Out Our Latest Research Report on SHOP
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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