Whittier Trust Co. Purchases 202 Shares of Shopify Inc. (NYSE:SHOP)

Whittier Trust Co. increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,262 shares of the software maker’s stock after purchasing an additional 202 shares during the quarter. Whittier Trust Co.’s holdings in Shopify were worth $560,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BluePointe Capital Management LLC boosted its position in shares of Shopify by 5.3% during the 4th quarter. BluePointe Capital Management LLC now owns 10,285 shares of the software maker’s stock valued at $1,094,000 after acquiring an additional 522 shares in the last quarter. Blueshift Asset Management LLC lifted its stake in Shopify by 71.7% during the fourth quarter. Blueshift Asset Management LLC now owns 9,380 shares of the software maker’s stock worth $997,000 after purchasing an additional 3,918 shares during the period. Royal London Asset Management Ltd. boosted its holdings in Shopify by 32.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 437,532 shares of the software maker’s stock valued at $46,523,000 after purchasing an additional 107,650 shares in the last quarter. Kazazian Asset Management LLC acquired a new position in shares of Shopify in the 4th quarter worth approximately $388,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Shopify during the 4th quarter worth approximately $1,013,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 2.4 %

Shares of SHOP stock opened at $104.29 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm has a fifty day moving average of $110.04 and a 200-day moving average of $99.53. The firm has a market capitalization of $135.04 billion, a price-to-earnings ratio of 67.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler increased their price objective on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Royal Bank of Canada set a $145.00 price target on shares of Shopify and gave the company an “outperform” rating in a research report on Friday. DA Davidson raised their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. New Street Research initiated coverage on Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Finally, Scotiabank raised their price target on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.