EFG Asset Management North America Corp. Increases Position in Shopify Inc. (NYSE:SHOP)

EFG Asset Management North America Corp. increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,452 shares of the software maker’s stock after acquiring an additional 3,618 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Shopify were worth $4,515,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 purchasing an additional 781,162 shares during the last quarter. FMR LLC boosted its stake in Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after buying an additional 484,561 shares during the last quarter. National Bank of Canada FI grew its holdings in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Shopify by 30.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after acquiring an additional 1,647,374 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of recent analyst reports. Moffett Nathanson boosted their target price on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Jefferies Financial Group upped their price objective on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. ATB Capital increased their target price on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Citigroup boosted their price target on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Oppenheimer raised their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Up 5.0 %

Shares of NYSE:SHOP opened at $109.41 on Tuesday. The company has a market cap of $141.67 billion, a PE ratio of 70.59, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a 50-day simple moving average of $110.19 and a 200 day simple moving average of $100.01.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results 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, research analysts forecast 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.