Schroder Investment Management Group Makes New Investment in Shopify Inc. (NYSE:SHOP)

Schroder Investment Management Group acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel reports. The fund acquired 877,716 shares of the software maker’s stock, valued at approximately $93,644,000.

A number of other institutional investors also recently modified their holdings of SHOP. Vanguard Group Inc. raised its position in Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after purchasing an additional 781,162 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after buying an additional 7,316,862 shares during the period. Norges Bank bought a new position in shares of Shopify during the fourth quarter valued at approximately $1,542,262,000. National Bank of Canada FI lifted its stake in Shopify by 28.0% in the third 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. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Shopify by 30.2% in the fourth 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 acquiring an additional 1,647,374 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. JMP Securities restated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price objective on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Finally, ATB Capital lifted their price target on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Down 5.9 %

Shares of Shopify stock opened at $96.51 on Monday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company’s 50 day moving average is $110.21 and its 200 day moving average is $100.98. The company has a market cap of $124.96 billion, a price-to-earnings ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly 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 net margin of 22.74% and a return on equity of 12.00%. Sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.