Brown Brothers Harriman & Co. Grows Stock Holdings in Shopify Inc. (NYSE:SHOP)

Brown Brothers Harriman & Co. increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 100.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,840 shares of the software maker’s stock after purchasing an additional 3,422 shares during the period. Brown Brothers Harriman & Co.’s holdings in Shopify were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its position in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Brooklyn Investment Group purchased a new position in Shopify during the third quarter valued at approximately $33,000. New Wave Wealth Advisors LLC acquired a new position in Shopify in the fourth quarter valued at approximately $39,000. Finally, Mather Group LLC. boosted its position in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

NYSE SHOP opened at $96.51 on Monday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a market capitalization of $124.96 billion, a P/E ratio of 62.27, a PEG ratio of 4.82 and a beta of 2.60. The firm’s 50-day moving average is $110.21 and its two-hundred day moving average is $100.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

SHOP has been the subject of several analyst reports. Phillip Securities cut shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a research report on Wednesday, February 12th. Evercore ISI raised their target price on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Citigroup upped their price target on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. raised their price objective on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.