Focus Partners Wealth Has $28.61 Million Stake in Shopify Inc. (NYSE:SHOP)

Focus Partners Wealth lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 55.6% during the 4th quarter, HoldingsChannel reports. The fund owned 268,814 shares of the software maker’s stock after purchasing an additional 96,033 shares during the period. Focus Partners Wealth’s holdings in Shopify were worth $28,610,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of Shopify by 0.9% during the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock valued at $5,646,455,000 after acquiring an additional 496,982 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after acquiring an additional 781,162 shares in the last quarter. FMR LLC boosted its holdings in shares of Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock valued at $4,653,054,000 after acquiring an additional 1,426,000 shares in the last quarter. Capital International Investors boosted its holdings in shares of Shopify by 2.7% during the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after acquiring an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Shopify by 79.8% during 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 acquiring an additional 7,316,862 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 2.4%

Shares of NYSE SHOP opened at $91.77 on Monday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock’s 50 day moving average price is $93.29 and its 200-day moving average price is $103.05. The company has a market capitalization of $118.83 billion, a PE ratio of 59.21, a PEG ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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 expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent research reports. Barclays cut their target price on Shopify from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday. Citigroup lifted their price objective on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Cantor Fitzgerald decreased their target price on Shopify from $120.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Benchmark decreased their target price on Shopify from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, BMO Capital Markets initiated coverage on Shopify in a research report on Tuesday, May 6th. They issued an “outperform” rating and a $120.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.37.

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.