Prudential PLC Grows Stock Holdings in Shopify Inc. (NYSE:SHOP)

Prudential PLC lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 201,894 shares of the software maker’s stock after buying an additional 28,026 shares during the quarter. Prudential PLC’s holdings in Shopify were worth $21,461,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Allianz SE purchased a new stake in Shopify in the fourth quarter valued at about $27,000. PFG Private Wealth Management LLC raised its position in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in Shopify during the 4th quarter valued at approximately $39,000. Finally, Mather Group LLC. raised its holdings in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SHOP shares. Deutsche Bank Aktiengesellschaft upped their target price on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Jefferies Financial Group lifted their target price on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. The Goldman Sachs Group increased their price target on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Down 18.2 %

NYSE:SHOP opened at $82.29 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a market cap of $106.55 billion, a P/E ratio of 53.09, a P/E/G ratio of 4.82 and a beta of 2.81. The company’s 50-day moving average price is $109.29 and its 200-day moving average price is $101.20.

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 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, analysts expect 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.