Shopify Inc. (NYSE:SHOP) Stock Holdings Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,382,200 shares of the software maker's stock after purchasing an additional 60,177 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.19% of Shopify worth $185,573,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SHOP. Allspring Global Investments Holdings LLC grew its position in shares of Shopify by 68,983.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 186,526 shares of the software maker's stock valued at $10,179,000 after purchasing an additional 186,256 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Shopify by 10.4% during the third quarter. Perigon Wealth Management LLC now owns 9,694 shares of the software maker's stock worth $529,000 after buying an additional 914 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Shopify in the 3rd quarter valued at approximately $223,000. Yousif Capital Management LLC grew its stake in shares of Shopify by 1.8% during the 3rd quarter. Yousif Capital Management LLC now owns 17,395 shares of the software maker's stock worth $949,000 after purchasing an additional 315 shares during the period. Finally, Teamwork Financial Advisors LLC purchased a new position in Shopify in the 3rd quarter valued at approximately $271,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Stock Up 1.3 %

NYSE SHOP traded up $0.74 on Wednesday, reaching $58.77. 11,073,728 shares of the stock traded hands, compared to its average volume of 10,324,170. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a fifty day moving average price of $73.20 and a 200-day moving average price of $74.18. The company has a market cap of $75.61 billion, a price-to-earnings ratio of -344.94, a PEG ratio of 2.37 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, research analysts forecast that Shopify Inc. will post 0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Shopify from $65.00 to $90.00 and gave the company a "hold" rating in a report on Monday, February 12th. ATB Capital upped their price target on shares of Shopify from $105.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 14th. Benchmark reiterated a "hold" rating on shares of Shopify in a report on Tuesday, May 7th. Atb Cap Markets upgraded shares of Shopify from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Shopify from $95.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Shopify presently has an average rating of "Hold" and an average price target of $76.86.

Shopify Company 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.