Shopify Inc. (NYSE:SHOP) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 100.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,840 shares of the software maker’s stock after acquiring an additional 3,422 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Shopify were worth $727,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Vanguard Group Inc. lifted its position in shares of Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after purchasing an additional 781,162 shares during the last quarter. Norges Bank purchased a new stake in Shopify during the 4th quarter worth about $1,542,262,000. National Bank of Canada FI lifted its holdings in Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Shopify by 30.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock worth $754,201,000 after acquiring an additional 1,647,374 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Shopify by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after acquiring an additional 471,280 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 5.9 %

SHOP stock opened at $96.51 on Monday. The company has a market cap of $124.96 billion, a price-to-earnings ratio of 62.27, a PEG ratio of 4.82 and a beta of 2.60. The firm has a 50 day moving average of $110.21 and a 200-day moving average of $100.98. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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 return on equity of 12.00% and a net margin of 22.74%. Sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price target on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, February 18th. Citigroup increased their target price on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Scotiabank boosted their price target on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $126.31.

About Shopify

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.