Allspring Global Investments Holdings LLC grew its position in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 39.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 259,686 shares of the software maker’s stock after purchasing an additional 73,160 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Shopify were worth $20,230,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its position in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new position in Shopify in the 2nd quarter worth about $27,000. Baldwin Brothers LLC MA grew its position in Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after purchasing an additional 147 shares during the last quarter. Global Trust Asset Management LLC grew its position in Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after purchasing an additional 350 shares during the last quarter. Finally, Vestor Capital LLC bought a new position in Shopify in the 2nd quarter worth about $35,000. Institutional investors own 69.27% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on SHOP. CIBC upped their price target on shares of Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Wells Fargo & Company reduced their price target on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Robert W. Baird upped their price target on shares of Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Wedbush reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Shopify in a research note on Tuesday, February 13th. Finally, UBS Group upped their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.38.
Shopify Stock Down 2.2 %
Shopify stock opened at $70.00 on Friday. The firm has a market cap of $90.06 billion, a PE ratio of 777.86 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The firm’s 50 day moving average price is $77.97 and its two-hundred day moving average price is $71.42. Shopify Inc. has a twelve month low of $45.11 and a twelve month high of $91.57.
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last announced its quarterly 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. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. On average, research analysts predict that Shopify Inc. will post 0.57 EPS for the current fiscal year.
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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