AIA Group Ltd Boosts Holdings in Shopify Inc. (NYSE:SHOP)

AIA Group Ltd boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,988 shares of the software maker’s stock after buying an additional 16,163 shares during the period. AIA Group Ltd’s holdings in Shopify were worth $9,503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. lifted its holdings in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after acquiring an additional 130 shares during the period. PCA Investment Advisory Services Inc. acquired a new position in Shopify in the 2nd quarter valued at about $27,000. Baldwin Brothers LLC MA raised its stake in Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares during the last quarter. Global Trust Asset Management LLC grew its holdings in Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after buying an additional 350 shares during the period. Finally, Vestor Capital LLC purchased a new stake in Shopify in the 2nd quarter valued at about $35,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Shopify in a report on Wednesday, February 14th. Barclays decreased their target price on Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, February 14th. Roth Capital boosted their target price on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Wells Fargo & Company decreased their target price on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Finally, National Bankshares upped their price target on Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $78.00.

Shopify Stock Performance

SHOP traded up $0.18 during trading on Thursday, reaching $69.59. 5,623,778 shares of the company were exchanged, compared to its average volume of 9,473,556. The stock has a market cap of $89.53 billion, a P/E ratio of 782.75 and a beta of 2.22. The firm has a 50 day moving average of $77.14 and a 200 day moving average of $71.75. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, sell-side analysts forecast that Shopify Inc. will post 0.58 EPS for the current fiscal year.

Shopify Company 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.