Shopify Inc. (NYSE:SHOP) Shares Acquired by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lifted its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 157.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,752 shares of the software maker's stock after buying an additional 13,930 shares during the quarter. Shopify accounts for approximately 0.7% of Legacy Capital Group California Inc.'s holdings, making the stock its 22nd largest holding. Legacy Capital Group California Inc.'s holdings in Shopify were worth $1,772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Baillie Gifford & Co. increased its position in shares of Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker's stock worth $4,998,476,000 after acquiring an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. increased its holdings in Shopify by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker's stock worth $2,233,344,000 after purchasing an additional 634,883 shares during the last quarter. Legal & General Group Plc raised its position in shares of Shopify by 6.5% in the 3rd quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker's stock valued at $339,750,000 after purchasing an additional 377,901 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Shopify by 78.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker's stock valued at $262,462,000 after buying an additional 2,113,773 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Shopify by 7.7% during the fourth quarter. Mackenzie Financial Corp now owns 4,334,722 shares of the software maker's stock worth $337,640,000 after buying an additional 309,540 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 1.6 %

Shares of NYSE SHOP traded down $0.95 during mid-day trading on Thursday, hitting $57.82. 9,613,841 shares of the company traded hands, compared to its average volume of 10,316,844. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. 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 $74.39 billion, a price-to-earnings ratio of -340.12, a PEG ratio of 2.37 and a beta of 2.20. The business has a 50 day moving average of $72.90 and a two-hundred day moving average of $74.07.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. On average, sell-side analysts anticipate that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on SHOP. Deutsche Bank Aktiengesellschaft reduced their price objective 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. ATB Capital upped their price objective on Shopify from $105.00 to $110.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 14th. JMP Securities upgraded Shopify from a "market perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research report on Thursday, May 9th. BNP Paribas raised Shopify from an "underperform" rating to an "outperform" rating in a research report on Thursday, May 2nd. Finally, National Bankshares lifted their price objective on shares of Shopify from $80.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $76.86.

About Shopify

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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