Axiom Investors LLC DE Raises Stock Holdings in Shopify Inc. (NYSE:SHOP)

Axiom Investors LLC DE lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 48.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 832,525 shares of the software maker’s stock after acquiring an additional 273,035 shares during the period. Axiom Investors LLC DE owned 0.06% of Shopify worth $88,522,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Shopify by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after buying an additional 781,162 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares during the period. Norges Bank acquired a new position in Shopify in the 4th quarter valued at $1,542,262,000. National Bank of Canada FI lifted its stake in shares of 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 purchasing an additional 1,621,981 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Shopify by 30.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock worth $754,201,000 after purchasing an additional 1,647,374 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Robert W. Baird increased their target price on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. UBS Group raised their target price on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Citigroup increased their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research note on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 5.9 %

Shares of SHOP stock opened at $96.51 on Monday. The company has a market cap of $124.96 billion, a P/E ratio of 62.27, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The business has a 50 day moving average of $110.21 and a two-hundred day moving average of $100.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued 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%. Analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.