Shopify Inc. (NYSE:SHOP) Shares Purchased by Lyell Wealth Management LP

Lyell Wealth Management LP boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 157,488 shares of the software maker’s stock after buying an additional 304 shares during the period. Shopify accounts for approximately 1.5% of Lyell Wealth Management LP’s holdings, making the stock its 16th largest holding. Lyell Wealth Management LP’s holdings in Shopify were worth $16,746,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. raised its holdings in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. FMR LLC raised its holdings in shares of Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. National Bank of Canada FI raised its holdings in shares of Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after purchasing an additional 1,325,350 shares during the period. Finally, Jennison Associates LLC purchased a new position in shares of Shopify in the 4th quarter worth about $132,323,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP stock opened at $129.20 on Wednesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a fifty day moving average of $112.48 and a two-hundred day moving average of $94.23. The firm has a market capitalization of $166.94 billion, a PE ratio of 83.35, a price-to-earnings-growth ratio of 5.06 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. Equities research analysts predict that Shopify Inc. will post 1.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Mizuho raised their price objective on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Monday, February 10th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a report on Friday, December 6th. Citigroup raised their target price on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Oppenheimer raised their target price on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

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.