FWL Investment Management LLC Invests $56,000 in Shopify Inc. (NYSE:SHOP)

FWL Investment Management LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 525 shares of the software maker’s stock, valued at approximately $56,000.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Shopify during the fourth quarter worth approximately $1,542,262,000. Arrowstreet Capital Limited Partnership raised its stake in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Shopify by 631.3% during the 4th quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock worth $474,187,000 after purchasing an additional 3,849,796 shares in the last quarter. Marshall Wace LLP raised its position in shares of Shopify by 623.8% in the fourth quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker’s stock valued at $198,932,000 after buying an additional 2,228,091 shares in the last quarter. Finally, Durable Capital Partners LP grew its position in Shopify by 86.9% during the fourth quarter. Durable Capital Partners LP now owns 3,950,348 shares of the software maker’s stock worth $420,041,000 after buying an additional 1,836,294 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price target on Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Wedbush restated an “outperform” rating and set a $110.00 price objective on shares of Shopify in a research report on Tuesday, April 15th. Scotiabank lowered their price target on Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a report on Monday, April 28th. Piper Sandler boosted their target price on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Barclays upped their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.00.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $94.26 on Friday. The stock has a 50 day moving average price of $93.49 and a 200-day moving average price of $102.66. The firm has a market capitalization of $122.05 billion, a P/E ratio of 60.81, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Thursday, May 8th. The software maker reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.79). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Shopify’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, equities analysts forecast that Shopify Inc. will post 1.12 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.