Nebula Research & Development LLC Purchases Shares of 7,775 Shopify Inc. (NYSE:SHOP)

Nebula Research & Development LLC acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,775 shares of the software maker’s stock, valued at approximately $827,000.

Several other large investors have also recently made changes to their positions in the company. Capital World Investors grew its stake in shares of Shopify by 0.9% in the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock worth $5,646,455,000 after buying an additional 496,982 shares in the last quarter. Vanguard Group Inc. grew its position in Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after acquiring an additional 781,162 shares in the last quarter. FMR LLC increased its stake in Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock worth $4,653,054,000 after acquiring an additional 1,426,000 shares during the last quarter. Capital International Investors raised its position in Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after purchasing an additional 968,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shares of NYSE:SHOP opened at $97.12 on Monday. The firm has a market capitalization of $125.75 billion, a P/E ratio of 62.66, a P/E/G ratio of 4.82 and a beta of 2.82. The business’s 50-day moving average is $96.79 and its 200 day moving average is $102.05. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on SHOP shares. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley lowered their target price on shares of Shopify from $144.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Piper Sandler lifted their price target on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. ATB Capital increased their price objective on shares of Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI boosted their target price on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $119.67.

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.