Melqart Asset Management UK Ltd Lowers Stock Position in Shopify Inc. (NYSE:SHOP)

Melqart Asset Management UK Ltd lessened its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 30.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,115 shares of the software maker's stock after selling 32,130 shares during the period. Shopify comprises about 0.9% of Melqart Asset Management UK Ltd's portfolio, making the stock its 28th largest holding. Melqart Asset Management UK Ltd's holdings in Shopify were worth $7,668,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its position in Shopify by 0.9% during the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock worth $5,646,455,000 after purchasing an additional 496,982 shares during the period. Vanguard Group Inc. grew its stake in Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after buying an additional 781,162 shares during the last quarter. FMR LLC lifted its position in Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after acquiring an additional 1,426,000 shares during the last quarter. Capital International Investors boosted 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 worth $3,883,039,000 after acquiring an additional 968,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Shopify by 79.8% in 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 purchasing an additional 7,316,862 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 2.6 %

Shares of Shopify stock traded up $2.48 during trading on Friday, reaching $99.49. The company's stock had a trading volume of 8,186,397 shares, compared to its average volume of 9,278,911. The company has a market cap of $128.82 billion, a price-to-earnings ratio of 64.18, a PEG ratio of 4.82 and a beta of 2.82. The firm's 50-day moving average is $94.95 and its two-hundred day moving average is $102.18. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SHOP shares. Robert W. Baird boosted their price target on Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Morgan Stanley decreased their price target on shares of Shopify from $144.00 to $106.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. CIBC lifted their price objective on shares of Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Barclays boosted their price objective on shares of Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Finally, Benchmark raised shares of Shopify from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a report on Monday, February 10th. 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.14.

Shopify 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.