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

Dynasty Wealth Management LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,001 shares of the software maker’s stock after purchasing 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 quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SHOP. Baillie Gifford & Co. raised its position in shares of Shopify by 14.7% during the 3rd 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 period. FMR LLC increased 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 acquiring an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after purchasing an additional 484,561 shares during the last quarter. National Bank of Canada FI grew 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 worth $593,588,000 after purchasing an additional 1,621,981 shares during the period. Finally, Geode Capital Management LLC lifted its position in Shopify by 9.6% in the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after buying an additional 471,280 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Down 2.2 %

NYSE:SHOP opened at $110.72 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The stock’s 50 day simple moving average is $112.82 and its 200-day simple moving average is $96.45. The firm has a market cap of $143.36 billion, a P/E ratio of 71.43, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. Research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of a number of research analyst reports. KeyCorp boosted their target price on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Mizuho boosted their price target on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Barclays raised their price objective on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, TD Securities upped their target price on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

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.