Banco Bilbao Vizcaya Argentaria S.A. Buys 7,583 Shares of Shopify Inc. (NYSE:SHOP)

Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 12.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 67,820 shares of the software maker's stock after purchasing an additional 7,583 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Shopify were worth $7,266,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. World Investment Advisors LLC increased its position in shares of Shopify by 113.4% during the third quarter. World Investment Advisors LLC now owns 12,751 shares of the software maker's stock valued at $1,022,000 after acquiring an additional 6,776 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Shopify during the 3rd quarter worth $615,000. Synovus Financial Corp bought a new position in Shopify during the third quarter valued at about $481,000. Peapack Gladstone Financial Corp increased its holdings in Shopify by 29.3% during the third quarter. Peapack Gladstone Financial Corp now owns 9,551 shares of the software maker's stock worth $765,000 after buying an additional 2,162 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC raised its position in Shopify by 700.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 1,000 shares of the software maker's stock worth $80,000 after acquiring an additional 875 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

SHOP traded up $2.49 on Thursday, hitting $97.49. 4,426,510 shares of the company were exchanged, compared to its average volume of 9,260,479. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm has a fifty day simple moving average of $95.32 and a two-hundred day simple moving average of $102.09. The stock has a market capitalization of $126.23 billion, a PE ratio of 62.93, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate 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 expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald decreased their price target on shares of Shopify from $120.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. boosted their target price on Shopify from $121.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. CIBC lifted their price objective on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. ATB Capital upped their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their target price on shares of Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.14.

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.