Blair William & Co. IL Has $49.66 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Blair William & Co. IL boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 467,025 shares of the software maker’s stock after acquiring an additional 9,819 shares during the quarter. Blair William & Co. IL’s holdings in Shopify were worth $49,659,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SHOP. Connor Clark & Lunn Investment Management Ltd. boosted its position in Shopify by 30.2% during 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 purchasing an additional 1,647,374 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Shopify by 28.0% during 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 purchasing an additional 1,621,981 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Shopify during the 4th quarter valued at about $132,323,000. Congress Asset Management Co. bought a new stake in shares of Shopify in the 4th quarter valued at approximately $84,074,000. Finally, Vanguard Group Inc. increased its holdings in Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after buying an additional 781,162 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on SHOP shares. Evercore ISI lifted 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. DA Davidson upped their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley raised their target price on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Robert W. Baird upped their price target on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Scotiabank raised their price objective on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

Shopify stock opened at $102.64 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock has a fifty day moving average price of $110.35 and a two-hundred day moving average price of $100.35. The firm has a market capitalization of $132.90 billion, a P/E ratio of 66.22, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. On average, equities research analysts predict 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.