Shopify Inc. (NYSE:SHOP) Shares Purchased by World Equity Group Inc.

World Equity Group Inc. lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 106.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,062 shares of the software maker’s stock after purchasing an additional 4,678 shares during the quarter. World Equity Group Inc.’s holdings in Shopify were worth $964,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC acquired a new stake in shares of Shopify in the 4th quarter worth $132,323,000. Swiss National Bank boosted its position in shares of Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC boosted its position in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after purchasing an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SHOP shares. Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Barclays lifted their price target on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. KeyCorp lifted their price target on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. CIBC lifted their price target on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their price target on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Price Performance

Shares of Shopify stock opened at $115.40 on Friday. The stock has a market cap of $149.42 billion, a P/E ratio of 74.45, a P/E/G ratio of 4.82 and a beta of 2.47. The stock’s 50 day simple moving average is $112.85 and its 200-day simple moving average is $95.38. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate 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.

Shopify 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.