Shopify Inc. (NYSE:SHOP) Shares Purchased by AIA Group Ltd

AIA Group Ltd grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 168,322 shares of the software maker’s stock after purchasing an additional 9,959 shares during the period. AIA Group Ltd’s holdings in Shopify were worth $17,898,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Allianz SE acquired a new position in shares of Shopify during the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC increased its position 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 purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC raised its stake in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify in the 3rd quarter worth $33,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SHOP shares. Wedbush reiterated an “outperform” rating and issued a $125.00 price target on shares of Shopify in a research report on Tuesday, February 11th. ATB Capital increased their target price on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Monday, February 10th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a report on Friday, December 6th. Finally, Canaccord Genuity Group raised their price objective on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Down 5.9 %

Shares of Shopify stock opened at $96.51 on Monday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a fifty day simple moving average of $110.21 and a 200-day simple moving average of $100.98. The stock has a market capitalization of $124.96 billion, a price-to-earnings ratio of 62.27, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

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.