Aviva PLC Sells 343,585 Shares of Shopify Inc. (NYSE:SHOP)

Aviva PLC decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 32.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 730,222 shares of the software maker’s stock after selling 343,585 shares during the quarter. Aviva PLC owned approximately 0.06% of Shopify worth $77,562,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC purchased a new position in shares of Shopify in the 4th quarter valued at $132,323,000. Watts Gwilliam & Co. LLC grew its stake in Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Shopify by 18.4% during the third quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock valued at $4,618,000 after buying an additional 8,960 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Shopify in the 3rd quarter valued at about $33,676,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 6.6 %

Shares of Shopify stock opened at $76.89 on Friday. The business’s fifty day simple moving average is $108.67 and its 200-day simple moving average is $101.22. The firm has a market cap of $99.56 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. As a group, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SHOP. Evercore ISI boosted their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler boosted their price target on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Truist Financial increased their price objective on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Monday, February 10th. Finally, TD Securities raised their price target on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

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.