2,373 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Full Sail Capital LLC

Full Sail Capital LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,373 shares of the software maker’s stock, valued at approximately $252,000.

A number of other large investors have also recently modified their holdings of SHOP. Norges Bank purchased a new position in shares of Shopify during the 4th quarter valued at about $1,542,262,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. Alliancebernstein L.P. raised its position in Shopify by 631.3% in 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 during the period. Marshall Wace LLP increased its holdings 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 worth $198,932,000 after buying an additional 2,228,091 shares during the period. Finally, Durable Capital Partners LP lifted its stake in shares of Shopify by 86.9% in the 4th quarter. Durable Capital Partners LP now owns 3,950,348 shares of the software maker’s stock valued at $420,041,000 after acquiring an additional 1,836,294 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 2.4 %

Shares of SHOP opened at $91.77 on Friday. The business’s 50 day moving average is $93.29 and its 200 day moving average is $102.73. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a market capitalization of $118.83 billion, a PE ratio of 59.21, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank of Canada dropped their price objective on Shopify from $145.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Wedbush restated an “outperform” rating and issued a $110.00 price objective on shares of Shopify in a research report on Tuesday, April 15th. KeyCorp dropped their target price on shares of Shopify from $140.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. National Bankshares cut their price objective on Shopify from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, Cantor Fitzgerald cut their price target on shares of Shopify from $120.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.37.

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.