Canada Pension Plan Investment Board Has $25.24 Million Holdings in Shopify Inc (SHOP)

Canada Pension Plan Investment Board reduced its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,358 shares of the software maker’s stock after selling 10,736 shares during the quarter. Canada Pension Plan Investment Board owned 0.17% of Shopify worth $25,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. We Are One Seven LLC bought a new stake in Shopify during the fourth quarter worth $27,000. Mackey Komara & Dankovich LLC bought a new stake in Shopify during the fourth quarter worth $28,000. Optimum Investment Advisors bought a new stake in Shopify during the fourth quarter worth $28,000. Quad Cities Investment Group LLC bought a new stake in Shopify during the fourth quarter worth $28,000. Finally, North Star Investment Management Corp. raised its position in Shopify by 90.9% during the fourth quarter. North Star Investment Management Corp. now owns 210 shares of the software maker’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

SHOP has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $177.00 price target on shares of Shopify in a research report on Monday, January 28th. Royal Bank of Canada upped their price target on shares of Shopify from $157.00 to $159.00 and gave the stock a “sector perform” rating in a research report on Saturday, October 27th. Zacks Investment Research reissued a “buy” rating and issued a $145.00 price objective on shares of Shopify in a research report on Thursday, November 15th. Rosenblatt Securities set a $190.00 price objective on shares of Shopify and gave the company a “buy” rating in a research report on Friday, October 26th. Finally, KeyCorp increased their price objective on shares of Shopify from $182.00 to $197.00 and gave the company an “overweight” rating in a research report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $186.15.

Shares of SHOP opened at $178.19 on Tuesday. The stock has a market capitalization of $19.20 billion, a PE ratio of -292.11 and a beta of 1.51. Shopify Inc has a fifty-two week low of $112.50 and a fifty-two week high of $180.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.82 and a current ratio of 15.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 12th. The software maker reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.32. Shopify had a negative net margin of 6.01% and a negative return on equity of 3.52%. The company had revenue of $344.00 million for the quarter, compared to analyst estimates of $327.45 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The company’s revenue was up 54.3% on a year-over-year basis. Equities research analysts anticipate that Shopify Inc will post -0.56 EPS for the current fiscal year.

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Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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