Mitsubishi UFJ Trust & Banking Corp Purchases 40,588 Shares of Shopify Inc. (NYSE:SHOP)

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 975,362 shares of the software maker’s stock after buying an additional 40,588 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Shopify were worth $103,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. PFG Private Wealth Management LLC increased its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Shopify during the 3rd quarter valued at $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the 4th quarter valued at $39,000. Mather Group LLC. boosted its holdings in shares of 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 buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify in the 3rd quarter worth about $45,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shopify stock opened at $109.41 on Tuesday. The stock has a market cap of $141.67 billion, a PE ratio of 70.59, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The stock has a fifty day moving average of $110.19 and a 200 day moving average of $100.01. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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%. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SHOP. DA Davidson lifted their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Royal Bank of Canada set a $145.00 price objective on Shopify and gave the company an “outperform” rating in a research note on Friday. CIBC lifted their target price on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.