MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 17,591 Shares of Shopify Inc. (NYSE:SHOP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 683,412 shares of the software maker's stock after purchasing an additional 17,591 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.05% of Shopify worth $72,669,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SHOP. LRI Investments LLC grew its position in shares of Shopify by 9.8% during the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker's stock valued at $94,000 after acquiring an additional 79 shares during the period. Tidemark LLC raised its holdings in Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock worth $276,000 after purchasing an additional 90 shares during the period. Howland Capital Management LLC lifted its position in Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont grew its holdings in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after purchasing an additional 100 shares during the period. Finally, First United Bank & Trust increased its position in Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock worth $488,000 after buying an additional 100 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BMO Capital Markets began coverage on Shopify in a research note on Tuesday, May 6th. They set an "outperform" rating and a $120.00 price objective for the company. Piper Sandler upped their price target on shares of Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Truist Financial reduced their price objective on shares of Shopify from $120.00 to $100.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Oppenheimer dropped their target price on shares of Shopify from $150.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, UBS Group decreased their price target on Shopify from $125.00 to $110.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has an average rating of "Moderate Buy" and a consensus price target of $115.37.

Shopify Stock Up 0.5%

Shopify stock traded up $0.54 during midday trading on Friday, reaching $110.75. The stock had a trading volume of 96,037,521 shares, compared to its average volume of 9,569,946. The firm has a market cap of $143.40 billion, a price-to-earnings ratio of 71.45, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a fifty day moving average of $93.94 and a 200 day moving average of $103.52.

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 (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%. Equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

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.