US Bancorp DE Acquires 2,605 Shares of Shopify Inc. (NYSE:SHOP)

US Bancorp DE raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,597 shares of the software maker’s stock after purchasing an additional 2,605 shares during the period. US Bancorp DE’s holdings in Shopify were worth $7,400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in shares of Shopify in the third quarter worth $33,000. New Wave Wealth Advisors LLC acquired a new stake in Shopify during the fourth quarter worth about $39,000. Mather Group LLC. increased its holdings in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Truvestments Capital LLC acquired a new position in shares of Shopify in the 3rd quarter valued at approximately $45,000. Finally, Sierra Ocean LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SHOP shares. UBS Group lifted their price objective on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their target price on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Down 4.6 %

SHOP stock opened at $101.68 on Wednesday. The firm has a market cap of $131.66 billion, a PE ratio of 65.60, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The stock has a 50-day moving average price of $112.65 and a 200-day moving average price of $97.53. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

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

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.