Swiss National Bank decreased its position in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,239,200 shares of the software maker’s stock after selling 271,300 shares during the quarter. Swiss National Bank’s holdings in Shopify were worth $522,623,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Aviva PLC raised its stake in shares of Shopify by 5.7% in the 4th quarter. Aviva PLC now owns 1,023,213 shares of the software maker’s stock valued at $164,880,000 after purchasing an additional 55,439 shares during the period. Founders Financial Alliance LLC raised its stake in shares of Shopify by 5.2% in the 4th quarter. Founders Financial Alliance LLC now owns 1,768 shares of the software maker’s stock valued at $285,000 after purchasing an additional 87 shares during the period. Great Valley Advisor Group Inc. raised its stake in shares of Shopify by 2.9% in the 4th quarter. Great Valley Advisor Group Inc. now owns 15,460 shares of the software maker’s stock valued at $2,488,000 after purchasing an additional 436 shares during the period. Kovack Advisors Inc. raised its stake in shares of Shopify by 311.4% in the 4th quarter. Kovack Advisors Inc. now owns 52,668 shares of the software maker’s stock valued at $8,478,000 after purchasing an additional 39,867 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd raised its stake in shares of Shopify by 4.7% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 19,621 shares of the software maker’s stock valued at $3,158,000 after purchasing an additional 879 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.
Shopify Price Performance
Shares of NASDAQ SHOP opened at $110.47 on Friday. The stock has a market capitalization of $143.35 billion, a price-to-earnings ratio of 109.38, a PEG ratio of 3.03 and a beta of 2.60. The business has a 50-day moving average of $114.20 and a 200-day moving average of $131.77. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19.
Analyst Upgrades and Downgrades
Several analysts have issued reports on SHOP shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price target on shares of Shopify in a research note on Wednesday, May 6th. DA Davidson dropped their price target on Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Citizens Jmp decreased their price objective on Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Finally, Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.17.
Check Out Our Latest Stock Analysis on SHOP
Shopify Profile
Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.
Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.
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