Good Life Advisors LLC Purchases 445 Shares of Shopify Inc. (NYSE:SHOP)

Good Life Advisors LLC lifted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,844 shares of the software maker’s stock after buying an additional 445 shares during the period. Good Life Advisors LLC’s holdings in Shopify were worth $1,702,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Shopify by 1.6% in the third 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 last quarter. Norges Bank acquired a new position in Shopify in the 4th quarter valued at $414,365,000. Scge Management L.P. raised its position in Shopify by 0.9% in the second quarter. Scge Management L.P. now owns 8,486,491 shares of the software maker’s stock valued at $548,227,000 after purchasing an additional 79,491 shares during the period. TD Asset Management Inc grew 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 worth $389,052,000 after purchasing an additional 299,788 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings 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 valued at $339,750,000 after buying an additional 377,901 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SHOP shares. Piper Sandler lifted their price objective on shares of Shopify from $56.00 to $63.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Barclays cut their target price on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of Shopify in a research report on Monday, December 18th. Citigroup decreased their price target on shares of Shopify from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus increased their target price on shares of Shopify from $65.00 to $75.00 in a research report on Wednesday, December 6th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Shopify has a consensus rating of “Hold” and a consensus price target of $76.42.

Shopify Stock Down 1.8 %

NYSE SHOP traded down $1.45 during trading hours on Thursday, hitting $77.17. The company had a trading volume of 4,165,133 shares, compared to its average volume of 9,805,144. The firm’s 50 day moving average is $79.36 and its 200 day moving average is $69.98. The company has a market capitalization of $99.28 billion, a price-to-earnings ratio of 873.87 and a beta of 2.22. Shopify Inc. has a fifty-two week low of $43.50 and a fifty-two week 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.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Sell-side analysts anticipate that Shopify Inc. will post 0.57 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.