Banco Bilbao Vizcaya Argentaria S.A. Has $7.27 Million Holdings in Shopify Inc. (NYSE:SHOP)

Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,820 shares of the software maker’s stock after acquiring an additional 7,583 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Shopify were worth $7,266,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. bought a new stake in Shopify during the 4th quarter valued at approximately $27,114,000. Syon Capital LLC grew its stake in shares of Shopify by 3.6% in the fourth quarter. Syon Capital LLC now owns 6,726 shares of the software maker’s stock worth $715,000 after acquiring an additional 232 shares during the last quarter. MGO One Seven LLC increased its position in Shopify by 9.3% during the fourth quarter. MGO One Seven LLC now owns 18,008 shares of the software maker’s stock worth $1,915,000 after acquiring an additional 1,525 shares during the period. IHT Wealth Management LLC raised its stake in Shopify by 4.1% during the 4th quarter. IHT Wealth Management LLC now owns 8,816 shares of the software maker’s stock valued at $937,000 after purchasing an additional 344 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in Shopify by 2.0% in the 4th quarter. Stifel Financial Corp now owns 363,685 shares of the software maker’s stock valued at $38,671,000 after purchasing an additional 6,964 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. DA Davidson dropped their price objective on shares of Shopify from $150.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Shopify in a report on Tuesday, April 15th. Morgan Stanley reduced their price objective on Shopify from $144.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Robert W. Baird boosted their price objective on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI raised their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.67.

Shopify Stock Performance

Shares of SHOP opened at $97.12 on Friday. The business’s fifty day moving average price is $96.79 and its two-hundred day moving average price is $101.79. The firm has a market capitalization of $125.75 billion, a price-to-earnings ratio of 62.66, a PEG ratio of 4.82 and a beta of 2.82. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.