Shopify Inc. (NYSE:SHOP) Holdings Decreased by First Trust Advisors LP

First Trust Advisors LP lessened its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 818,331 shares of the software maker's stock after selling 84,553 shares during the quarter. First Trust Advisors LP owned approximately 0.06% of Shopify worth $87,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. FMR LLC lifted 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 worth $4,653,054,000 after buying an additional 1,426,000 shares during the last quarter. Capital International Investors lifted its position in shares of Shopify by 2.7% during the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after buying an additional 968,026 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after buying an additional 7,316,862 shares during the last quarter. Finally, FIL Ltd lifted its position in shares of Shopify by 11.9% during the 4th quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock worth $1,678,865,000 after buying an additional 1,682,326 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Trading Up 2.1 %

Shares of Shopify stock traded up $2.00 on Friday, reaching $97.12. 7,818,257 shares of the company were exchanged, compared to its average volume of 9,286,129. The stock has a fifty day moving average price of $96.79 and a 200-day moving average price of $102.05. The firm has a market capitalization of $125.75 billion, a price-to-earnings ratio of 62.66, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on SHOP shares. Loop Capital reduced their price objective on shares of Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Evercore ISI lifted their target price on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Morgan Stanley cut their target price on shares of Shopify from $144.00 to $106.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Mizuho cut their target price on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, New Street Research started coverage on shares of Shopify in a report on Friday, January 10th. They issued a "neutral" rating and a $115.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $119.67.

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.