Shopify Inc. $SHOP Shares Bought by TD Private Client Wealth LLC

TD Private Client Wealth LLC boosted its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 219.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,443 shares of the software maker’s stock after buying an additional 10,613 shares during the period. TD Private Client Wealth LLC’s holdings in Shopify were worth $2,486,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SHOP. Jennison Associates LLC lifted its stake in Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after acquiring an additional 7,403,821 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Shopify by 7,207.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock worth $184,883,000 after acquiring an additional 1,132,545 shares during the last quarter. Select Equity Group L.P. grew its stake in shares of Shopify by 92.5% during the second quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock worth $259,124,000 after purchasing an additional 1,079,494 shares in the last quarter. Steadfast Capital Management LP acquired a new position in shares of Shopify during the 3rd quarter worth about $140,930,000. Finally, Vanguard Group Inc. boosted its holdings in Shopify by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after purchasing an additional 743,803 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $180.00 target price on shares of Shopify in a research report on Tuesday, May 5th. Evercore set a $135.00 price objective on shares of Shopify in a research note on Wednesday, February 11th. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Wedbush cut their price target on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Finally, Citigroup dropped their price objective on Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.42.

Shopify Stock Down 1.3%

Shares of NASDAQ:SHOP opened at $101.01 on Wednesday. The company has a market capitalization of $131.08 billion, a P/E ratio of 100.01, a P/E/G ratio of 2.87 and a beta of 2.64. The stock’s fifty day simple moving average is $117.88 and its 200-day simple moving average is $137.06. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, sell-side analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current year.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.