Bailard Inc. Takes Position in Shopify Inc. (NYSE:SHOP)

Bailard Inc. bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, Holdings Channel reports. The firm bought 33,910 shares of the software maker’s stock, valued at approximately $2,642,000.

Other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. increased its position in Shopify by 2.3% during the fourth 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. Vanguard Group Inc. lifted its position in Shopify by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock valued at $2,233,344,000 after purchasing an additional 634,883 shares during the period. TD Asset Management Inc boosted its stake in Shopify by 4.4% in the third quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock valued at $389,052,000 after acquiring an additional 299,788 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Shopify by 6.5% during the third quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock worth $339,750,000 after purchasing an additional 377,901 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after buying an additional 2,113,773 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHOP. Truist Financial upped their price objective on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, February 12th. The Goldman Sachs Group upped their price objective on shares of Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Wedbush reissued a “neutral” rating and set a $68.00 price target on shares of Shopify in a research report on Tuesday, February 13th. National Bankshares upped their price objective on shares of Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, StockNews.com raised shares of Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $78.30.

Shopify Trading Up 1.1 %

SHOP stock traded up $0.78 during trading on Friday, reaching $71.33. 953,801 shares of the stock were exchanged, compared to its average volume of 9,290,948. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $91.77 billion, a price-to-earnings ratio of 788.98 and a beta of 2.22. The business has a 50 day moving average price of $75.48 and a 200-day moving average price of $72.38. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57.

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

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.