Baillie Gifford & Co. lifted its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,164,758 shares of the software maker's stock after buying an additional 1,419,749 shares during the quarter. Shopify makes up about 4.0% of Baillie Gifford & Co.'s holdings, making the stock its 5th largest position. Baillie Gifford & Co. owned about 4.99% of Shopify worth $4,998,476,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SJS Investment Consulting Inc. raised its stake in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker's stock valued at $27,000 after purchasing an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. acquired a new position in Shopify in the 2nd quarter valued at about $27,000. Activest Wealth Management acquired a new position in Shopify in the 3rd quarter valued at about $33,000. Baldwin Brothers LLC MA raised its stake in Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker's stock valued at $35,000 after purchasing an additional 147 shares during the last quarter. Finally, Global Trust Asset Management LLC raised its stake in Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker's stock valued at $35,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.
Analyst Upgrades and Downgrades
SHOP has been the subject of several analyst reports. Citigroup cut their target price on shares of Shopify from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, February 14th. DA Davidson upped their price objective on shares of Shopify from $86.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, February 14th. JMP Securities reaffirmed a "market perform" rating on shares of Shopify in a research note on Monday, December 18th. Piper Sandler upped their price objective on shares of Shopify from $56.00 to $63.00 and gave the company an "underweight" rating in a research note on Wednesday, February 14th. Finally, BNP Paribas downgraded shares of Shopify from a "neutral" rating to an "underperform" rating in a research note on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Shopify has an average rating of "Hold" and an average price target of $77.38.
Check Out Our Latest Stock Report on SHOP
Shopify Stock Up 0.7 %
Shares of SHOP traded up $0.54 during trading on Tuesday, reaching $74.92. The company's stock had a trading volume of 4,359,953 shares, compared to its average volume of 9,527,947. The company has a fifty day moving average of $78.49 and a two-hundred day moving average of $71.16. Shopify Inc. has a twelve month low of $44.05 and a twelve month high of $91.57. The company has a market cap of $96.39 billion, a price-to-earnings ratio of 832.54 and a beta of 2.22. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, sell-side analysts predict that Shopify Inc. will post 0.57 EPS for the current fiscal year.
Shopify Profile
(
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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