National Bank of Canada FI Has $576.61 Million Stock Position in Shopify Inc. (NYSE:SHOP)

National Bank of Canada FI reduced its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,811,676 shares of the software maker's stock after selling 26,515 shares during the period. Shopify accounts for 0.9% of National Bank of Canada FI's portfolio, making the stock its 18th largest position. National Bank of Canada FI owned approximately 0.61% of Shopify worth $576,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Forte Capital LLC ADV bought a new position in shares of Shopify in the 4th quarter worth about $246,000. Vestmark Advisory Solutions Inc. increased its stake in shares of Shopify by 2,264.5% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 166,626 shares of the software maker's stock valued at $12,980,000 after purchasing an additional 159,579 shares in the last quarter. AJOVista LLC purchased a new position in shares of Shopify during the fourth quarter valued at approximately $646,000. Sapient Capital LLC bought a new stake in shares of Shopify in the 4th quarter worth approximately $477,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Shopify by 43.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 20,685 shares of the software maker's stock worth $1,611,000 after purchasing an additional 6,311 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

Shopify stock traded up $2.46 during trading hours on Friday, hitting $74.46. The stock had a trading volume of 7,346,442 shares, compared to its average volume of 7,882,916. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The stock has a market capitalization of $95.80 billion, a price-to-earnings ratio of 827.43 and a beta of 2.20. The stock's fifty day moving average is $74.73 and its two-hundred day moving average is $73.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data 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 firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, analysts predict that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SHOP shares. Piper Sandler reiterated an "underweight" rating and set a $63.00 price objective on shares of Shopify in a research note on Thursday, April 11th. Needham & Company LLC reissued a "hold" rating on shares of Shopify in a research report on Tuesday, April 16th. Truist Financial increased their price objective on shares of Shopify from $65.00 to $90.00 and gave the stock a "hold" rating in a research note on Monday, February 12th. National Bankshares boosted their target price on shares of Shopify from $80.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, January 26th. Finally, The Goldman Sachs Group increased their price target on Shopify from $67.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $79.03.

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.