Shopify Inc. (NYSE:SHOP) Shares Sold by Mirova US LLC

Mirova US LLC lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,971,701 shares of the software maker’s stock after selling 57,162 shares during the quarter. Shopify comprises approximately 2.5% of Mirova US LLC’s investment portfolio, making the stock its 18th largest position. Mirova US LLC’s holdings in Shopify were worth $209,651,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. FMR LLC increased 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 acquiring an additional 5,869,795 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after acquiring an additional 484,561 shares during the period. National Bank of Canada FI increased 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 acquiring an additional 1,621,981 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Shopify by 30.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after buying an additional 1,647,374 shares during the period. Finally, Geode Capital Management LLC increased its stake in Shopify by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after buying an additional 471,280 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 2.0 %

Shares of Shopify stock opened at $96.78 on Tuesday. The firm has a fifty day simple moving average of $110.53 and a 200-day simple moving average of $98.94. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock has a market capitalization of $125.31 billion, a price-to-earnings ratio of 62.44, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several research analyst reports. DA Davidson raised their target price on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Loop Capital raised shares of 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 research note on Friday, December 6th. Evercore ISI raised their target price on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Truist Financial raised their price objective on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Finally, Scotiabank raised their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One equities 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 company’s stock. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

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.