Napa Wealth Management purchased a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,237 shares of the software maker's stock, valued at approximately $982,000.
Other large investors also recently modified their holdings of the company. Capital World Investors raised its position 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 purchasing an additional 496,982 shares during the last quarter. Vanguard Group Inc. raised its position 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 during the last quarter. FMR LLC raised its position in 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 purchasing an additional 1,426,000 shares during the last quarter. Capital International Investors raised its position in 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 purchasing an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in 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 purchasing an additional 7,316,862 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. DA Davidson lowered their target price on Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Canaccord Genuity Group increased their price target on Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Citigroup increased their price target on Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Mizuho decreased their price target on Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Shopify has a consensus rating of "Moderate Buy" and a consensus target price of $115.37.
Check Out Our Latest Research Report on SHOP
Shopify Stock Up 13.7%
Shares of NYSE SHOP opened at $104.34 on Tuesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock's 50 day moving average price is $93.25 and its 200-day moving average price is $103.23. The company has a market capitalization of $135.10 billion, a PE ratio of 67.32, a PEG ratio of 4.82 and a beta of 2.66.
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 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%. As a group, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.
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.
Further Reading
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