Vestmark Advisory Solutions Inc. Increases Stake in Shopify Inc. (NYSE:SHOP)

Vestmark Advisory Solutions Inc. increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2,264.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,626 shares of the software maker’s stock after buying an additional 159,579 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Shopify were worth $12,980,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Artisan Partners Limited Partnership boosted its holdings in shares of Shopify by 78.4% in the 3rd 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 in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Shopify by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after buying an additional 1,419,749 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Shopify in the 3rd quarter valued at $68,746,000. International Assets Investment Management LLC boosted its holdings in shares of Shopify by 6,637.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock valued at $92,592,000 after buying an additional 1,170,956 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Shopify in the 3rd quarter valued at $49,113,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of Shopify stock traded up $2.46 during trading hours on Friday, reaching $74.46. The company had a trading volume of 7,346,442 shares, compared to its average volume of 7,882,916. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The business has a fifty day simple moving average of $74.73 and a 200 day simple moving average of $73.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The firm has a market cap of $95.80 billion, a PE ratio of 827.43 and a beta of 2.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, analysts anticipate that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SHOP. Truist Financial upped their target price on shares of Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a report on Monday, February 12th. The Goldman Sachs Group increased their price target on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. CIBC increased their price target on shares of Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Piper Sandler reiterated an “underweight” rating and set a $63.00 price target on shares of Shopify in a research note on Thursday, April 11th. Finally, Loop Capital decreased their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $79.03.

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.