Jones Financial Companies Lllp Makes New Investment in Shopify Inc. (NYSE:SHOP)

Jones Financial Companies Lllp acquired a new stake in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 359 shares of the software maker’s stock, valued at approximately $28,000.

Several other hedge funds also recently made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in shares of Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after purchasing an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Shopify by 1.6% in the third quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock worth $2,233,344,000 after buying an additional 634,883 shares during the period. Norges Bank purchased a new position in shares of Shopify in the fourth quarter worth approximately $1,049,089,000. TD Asset Management Inc raised its holdings in shares of Shopify by 9.1% during the fourth quarter. TD Asset Management Inc now owns 7,749,238 shares of the software maker’s stock valued at $605,995,000 after acquiring an additional 645,143 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in Shopify by 33.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 6,416,115 shares of the software maker’s stock worth $499,815,000 after purchasing an additional 1,606,482 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. Wells Fargo & Company lowered their target price on Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. TD Securities decreased their price target on shares of Shopify from $80.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Roth Capital upped their price objective on shares of Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, UBS Group lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.74.

Check Out Our Latest Research Report on SHOP

Shopify Price Performance

Shares of Shopify stock opened at $61.58 on Friday. The firm’s 50-day simple moving average is $66.49 and its 200-day simple moving average is $73.76. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Equities analysts forecast that Shopify Inc. will post 0.59 EPS for the current fiscal year.

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.

See Also

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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