New York State Common Retirement Fund Has $84.21 Million Holdings in Shopify Inc. (NYSE:SHOP)

New York State Common Retirement Fund increased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,080,941 shares of the software maker’s stock after acquiring an additional 83,416 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of Shopify worth $84,205,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Artisan Partners Limited Partnership increased its holdings in Shopify by 78.4% during the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after buying an additional 2,113,773 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after acquiring an additional 1,419,749 shares during the period. Quadrature Capital Ltd purchased a new position in Shopify in the 3rd quarter worth approximately $68,746,000. International Assets Investment Management LLC grew its stake in Shopify by 6,637.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock worth $92,592,000 after buying an additional 1,170,956 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in Shopify in the 3rd quarter worth approximately $49,113,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

Shares of NYSE SHOP traded up $3.39 during mid-day trading on Tuesday, hitting $73.94. The company had a trading volume of 4,098,965 shares, compared to its average volume of 9,400,186. The stock has a market cap of $95.13 billion, a price-to-earnings ratio of 784.20 and a beta of 2.22. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The firm’s 50 day simple moving average is $75.98 and its two-hundred day simple moving average is $72.25.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. As a group, equities research analysts forecast that Shopify Inc. will post 0.58 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SHOP. Wedbush reaffirmed a “neutral” rating and issued a $68.00 price objective on shares of Shopify in a research note on Tuesday, February 13th. National Bankshares increased their price target on shares of Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Truist Financial increased their price objective on shares of Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 12th. UBS Group increased their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $78.30.

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.