Shopify Inc. (NYSE:SHOP) Shares Bought by MUFG Securities EMEA plc

MUFG Securities EMEA plc lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 27.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,356 shares of the software maker’s stock after purchasing an additional 4,154 shares during the period. MUFG Securities EMEA plc’s holdings in Shopify were worth $1,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Shopify during the 4th quarter worth approximately $1,049,089,000. Artisan Partners Limited Partnership increased its stake in shares of Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after buying an additional 2,113,773 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Shopify by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after acquiring an additional 1,419,749 shares in the last quarter. Quadrature Capital Ltd bought a new position in Shopify during the 3rd quarter valued at $68,746,000. Finally, International Assets Investment Management LLC grew its holdings in Shopify by 6,637.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock worth $92,592,000 after acquiring an additional 1,170,956 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SHOP shares. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. JMP Securities upgraded Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Thursday, May 9th. ATB Capital upped their price target on Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. The Goldman Sachs Group upgraded Shopify from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $74.00 in a research note on Wednesday. Finally, Morgan Stanley upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $74.00 to $85.00 in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $77.06.

Shopify Price Performance

NYSE SHOP traded down $0.67 on Friday, reaching $56.97. The company’s stock had a trading volume of 8,537,230 shares, compared to its average volume of 14,613,592. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The firm’s 50 day moving average is $70.27 and its two-hundred day moving average is $74.20. The stock has a market cap of $73.42 billion, a PE ratio of -335.12, a PEG ratio of 2.60 and a beta of 2.20.

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.