Shopify Inc. $SHOP Stock Holdings Increased by WINTON GROUP Ltd

WINTON GROUP Ltd lifted its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 47.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,158 shares of the software maker’s stock after purchasing an additional 15,858 shares during the quarter. WINTON GROUP Ltd’s holdings in Shopify were worth $7,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Shopify by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after purchasing an additional 743,803 shares in the last quarter. Norges Bank purchased a new stake in shares of Shopify in the fourth quarter worth approximately $2,611,797,000. Geode Capital Management LLC lifted its position in shares of Shopify by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after purchasing an additional 737,892 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Shopify by 2.2% in the fourth quarter. TD Asset Management Inc now owns 8,713,762 shares of the software maker’s stock worth $1,404,790,000 after purchasing an additional 185,252 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Shopify by 3.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,588,934 shares of the software maker’s stock worth $978,679,000 after purchasing an additional 213,315 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. ATB Cormark Capital Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Stifel Nicolaus set a $115.00 price target on shares of Shopify and gave the stock a “hold” rating in a research report on Wednesday, February 11th. KeyCorp reissued an “overweight” rating and issued a $160.00 price target on shares of Shopify in a research report on Wednesday, February 11th. Robert W. Baird set a $150.00 price objective on Shopify in a report on Wednesday, May 6th. Finally, DA Davidson dropped their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Stock Performance

NASDAQ:SHOP opened at $109.54 on Friday. The stock’s 50 day moving average price is $114.55 and its 200 day moving average price is $132.80. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The company has a market capitalization of $142.15 billion, a P/E ratio of 108.46, a P/E/G ratio of 3.25 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. As a group, sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.