Fisher Asset Management LLC Buys 5,894 Shares of Shopify Inc. (NYSE:SHOP)

Fisher Asset Management LLC lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 593,439 shares of the software maker’s stock after acquiring an additional 5,894 shares during the period. Fisher Asset Management LLC’s holdings in Shopify were worth $46,229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOP. SJS Investment Consulting Inc. grew its stake in shares of Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares in the last quarter. Baldwin Brothers LLC MA grew its position in Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. Global Trust Asset Management LLC increased its stake in Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after buying an additional 350 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Shopify by 1,112.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock worth $47,000 after buying an additional 556 shares during the last quarter. Finally, Anchor Investment Management LLC bought a new position in shares of Shopify in the 4th quarter valued at about $51,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

NYSE:SHOP opened at $74.47 on Friday. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a fifty day moving average of $74.77 and a 200-day moving average of $73.00. The firm has a market capitalization of $95.81 billion, a P/E ratio of 827.54 and a beta of 2.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. As a group, sell-side analysts anticipate that Shopify Inc. will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the topic of several analyst reports. Piper Sandler reiterated an “underweight” rating and set a $63.00 target price on shares of Shopify in a report on Thursday, April 11th. BNP Paribas raised shares of Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Robert W. Baird boosted their price objective on shares of Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Finally, Barclays cut their target price on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $79.03.

Shopify 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.