Shopify Inc. (NYSE:SHOP) Shares Acquired by Perpetual Ltd

Perpetual Ltd boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,248 shares of the software maker’s stock after acquiring an additional 2,538 shares during the quarter. Perpetual Ltd’s holdings in Shopify were worth $14,681,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. raised its holdings in shares of Shopify by 2.3% in the 4th 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 in the last quarter. Vanguard Group Inc. raised its stake in Shopify by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker’s stock valued at $3,284,910,000 after buying an additional 1,242,067 shares in the last quarter. Capital World Investors lifted its holdings in Shopify by 28.7% during the 4th quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock worth $3,071,197,000 after buying an additional 8,789,411 shares during the last quarter. Capital International Investors boosted its position in shares of Shopify by 9.7% during the 4th quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock worth $1,235,534,000 after acquiring an additional 1,399,562 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Shopify in the 4th quarter valued at about $1,049,089,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.6 %

Shares of NYSE:SHOP opened at $63.89 on Friday. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The business’s 50 day simple moving average is $64.67 and its 200-day simple moving average is $73.31. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Equities analysts anticipate that Shopify Inc. will post 0.61 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on SHOP. Needham & Company LLC restated a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. Loop Capital reduced their price objective on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 15th. CIBC dropped their target price on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating on the stock in a research report on Thursday, May 9th. BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group decreased their price objective on shares of Shopify from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.39.

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.