Northern Trust Corp Purchases 261,256 Shares of Shopify Inc. (NYSE:SHOP)

Northern Trust Corp grew its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 18.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,673,035 shares of the software maker's stock after purchasing an additional 261,256 shares during the period. Northern Trust Corp owned approximately 0.13% of Shopify worth $177,894,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Allianz SE acquired a new stake in shares of Shopify during the fourth quarter worth approximately $27,000. PFG Private Wealth Management LLC grew its holdings in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its position in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC bought a new stake in Shopify in the 4th quarter valued at about $39,000. Finally, Mather Group LLC. boosted its position in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after buying an additional 184 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on SHOP. Scotiabank lowered their target price on shares of Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Monday, April 28th. Citigroup boosted their price objective on Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Loop Capital decreased their target price on Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. New Street Research assumed coverage on shares of Shopify in a research note on Friday, January 10th. They issued a "neutral" rating and a $115.00 price objective on the stock. Finally, Wells Fargo & Company raised their price target on Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.14.

Shopify Price Performance

Shares of SHOP traded up $2.24 on Friday, hitting $99.25. The company's stock had a trading volume of 11,137,325 shares, compared to its average volume of 9,313,546. The company has a 50 day moving average price of $94.71 and a 200 day moving average price of $102.44. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The company has a market capitalization of $128.51 billion, a PE ratio of 64.03, a PEG ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its 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%. On average, equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.