Shopify Inc. (NYSE:SHOP) Shares Acquired by AIA Group Ltd

AIA Group Ltd raised its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,988 shares of the software maker's stock after acquiring an additional 16,163 shares during the period. AIA Group Ltd's holdings in Shopify were worth $9,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Industrial Alliance Investment Management Inc. grew its holdings in shares of Shopify by 292.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker's stock valued at $74,000 after acquiring an additional 82 shares in the last quarter. Turim 21 Investimentos Ltda. acquired a new position in Shopify during the first quarter valued at approximately $148,000. Fairfield Bush & CO. bought a new stake in shares of Shopify during the 1st quarter worth approximately $169,000. First Manhattan Co. boosted its holdings in shares of Shopify by 317.5% in the 1st quarter. First Manhattan Co. now owns 263 shares of the software maker's stock valued at $177,000 after buying an additional 200 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC grew its stake in shares of Shopify by 508.2% in the first quarter. Stonebridge Capital Advisors LLC now owns 298 shares of the software maker's stock valued at $201,000 after buying an additional 249 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Up 0.1 %

SHOP traded up $0.10 on Thursday, hitting $69.51. The company had a trading volume of 7,333,371 shares, compared to its average volume of 9,498,694. The company has a market cap of $89.43 billion, a PE ratio of 772.42 and a beta of 2.22. The business's fifty day simple moving average is $76.77 and its 200 day simple moving average is $71.73. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. 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 announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Equities research analysts expect that Shopify Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHOP. Loop Capital cut their price target on shares of Shopify from $90.00 to $80.00 and set a "hold" rating for the company in a research note on Monday. The Goldman Sachs Group lifted their price target on Shopify from $67.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. Roth Capital upped their price objective on Shopify from $85.00 to $89.00 and gave the company a "buy" rating in a research note on Wednesday, February 14th. DA Davidson raised their price objective on Shopify from $86.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $100.00 price target on shares of Shopify in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Shopify currently has a consensus rating of "Hold" and a consensus price target of $78.00.

Shopify Profile

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.