RiverPark Advisors LLC decreased its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 27.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,773 shares of the software maker's stock after selling 9,163 shares during the quarter. Shopify accounts for 1.9% of RiverPark Advisors LLC's portfolio, making the stock its 16th largest position. RiverPark Advisors LLC's holdings in Shopify were worth $2,634,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Shopify by 0.9% during the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock valued at $5,646,455,000 after acquiring an additional 496,982 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Shopify by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after acquiring an additional 781,162 shares in the last quarter. FMR LLC raised its holdings in shares of Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock valued at $4,653,054,000 after acquiring an additional 1,426,000 shares in the last quarter. Capital International Investors raised its holdings in shares of Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock valued at $3,883,039,000 after acquiring an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares in the last quarter. Institutional investors own 69.27% of the company's stock.
Shopify Stock Performance
Shares of SHOP traded up $0.11 during midday trading on Tuesday, hitting $98.68. The company had a trading volume of 3,167,209 shares, compared to its average volume of 10,002,458. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a market capitalization of $127.78 billion, a P/E ratio of 63.67, a P/E/G ratio of 4.82 and a beta of 2.82. The company's 50-day simple moving average is $96.21 and its 200-day simple moving average is $102.16.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Benchmark raised shares of Shopify from a "hold" rating to a "buy" rating and set a $150.00 price target for the company in a research report on Monday, February 10th. Cantor Fitzgerald lowered their price target on shares of Shopify from $120.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Canaccord Genuity Group lifted their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, New Street Research started coverage on shares of Shopify in a report on Friday, January 10th. They issued a "neutral" rating and a $115.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has an average rating of "Moderate Buy" and a consensus target price of $118.83.
Check Out Our Latest Research Report on SHOP
About Shopify
(
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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