Dynasty Wealth Management LLC Increases Position in Shopify Inc. (NYSE:SHOP)

Dynasty Wealth Management LLC lifted its position in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 1.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 31,001 shares of the software maker’s stock after buying an additional 563 shares during the period. Dynasty Wealth Management LLC’s holdings in Shopify were worth $3,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Baillie Gifford & Co. raised its position in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the last quarter. FMR LLC grew its stake in Shopify by 16.1% during the third 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 period. National Bank of Canada FI lifted its holdings in shares of Shopify by 28.0% during 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 acquiring an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Shopify in the fourth quarter valued at about $132,323,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SHOP. Truist Financial upped their target price on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Evercore ISI raised their price objective on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Check Out Our Latest Stock Report on Shopify

Shopify Trading Down 2.2 %

Shares of SHOP opened at $110.72 on Friday. The business’s 50-day moving average price is $112.82 and its 200 day moving average price is $96.45. The stock has a market capitalization of $143.36 billion, a P/E ratio of 71.43, a P/E/G ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

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

Shopify Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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