MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $72.67 Million Holdings in Shopify Inc. (NYSE:SHOP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 683,412 shares of the software maker’s stock after purchasing an additional 17,591 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of Shopify worth $72,669,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SHOP. LRI Investments LLC lifted its position in Shopify by 9.8% during the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock worth $94,000 after buying an additional 79 shares in the last quarter. Tidemark LLC increased its position in shares of Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after acquiring an additional 90 shares during the last quarter. Howland Capital Management LLC raised its holdings in Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after acquiring an additional 99 shares in the last quarter. Trust Co. of Vermont boosted its position in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the last quarter. Finally, First United Bank & Trust boosted its position in Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Securities boosted their price target on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Truist Financial lowered their target price on shares of Shopify from $120.00 to $100.00 and set a “hold” rating on the stock in a report on Tuesday, May 6th. CIBC upped their price target on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Benchmark cut their price target on shares of Shopify from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, BNP Paribas Exane lowered shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.37.

Shopify Price Performance

Shopify stock opened at $104.34 on Tuesday. The firm has a market cap of $135.10 billion, a PE ratio of 67.32, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. The stock’s fifty day moving average price is $93.25 and its two-hundred day moving average price is $103.23. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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 earnings per share 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.