Shopify Inc. (NYSE:SHOP) Stake Boosted by American Century Companies Inc.

American Century Companies Inc. increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,463,559 shares of the software maker’s stock after purchasing an additional 16,619 shares during the quarter. American Century Companies Inc. owned approximately 0.11% of Shopify worth $155,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. PFG Private Wealth Management LLC increased its stake in Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Brooklyn Investment Group purchased a new position in Shopify in the 3rd quarter worth about $33,000. New Wave Wealth Advisors LLC purchased a new position in Shopify in the 4th quarter worth about $39,000. Mather Group LLC. increased its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in Shopify in the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP stock opened at $104.29 on Friday. The stock has a market cap of $135.04 billion, a P/E ratio of 67.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The stock has a fifty day moving average price of $110.04 and a 200 day moving average price of $99.53.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. Equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

SHOP has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI lifted their target price on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler lifted their target price on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their target price on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada set a $145.00 target price on Shopify and gave the company an “outperform” rating in a research note on Friday. 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.