Shopify Inc (US) (SHOP) Position Lifted by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in shares of Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) by 68.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 897,340 shares of the software maker’s stock after purchasing an additional 363,490 shares during the quarter. Franklin Resources Inc. owned 1.04% of Shopify Inc (US) worth $90,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Coatue Management LLC raised its stake in shares of Shopify Inc (US) by 166.8% during the 4th quarter. Coatue Management LLC now owns 7,006,613 shares of the software maker’s stock worth $707,668,000 after buying an additional 4,380,903 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Shopify Inc (US) in the 4th quarter valued at about $39,580,000. Whale Rock Capital Management LLC grew its holdings in Shopify Inc (US) by 37.7% in the 3rd quarter. Whale Rock Capital Management LLC now owns 1,323,557 shares of the software maker’s stock valued at $154,181,000 after buying an additional 362,527 shares during the period. Mawer Investment Management Ltd. purchased a new stake in Shopify Inc (US) in the 3rd quarter valued at about $34,256,000. Finally, Ontario Teachers Pension Plan Board grew its holdings in Shopify Inc (US) by 40.1% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 705,434 shares of the software maker’s stock valued at $71,506,000 after buying an additional 201,845 shares during the period. 56.04% of the stock is owned by hedge funds and other institutional investors.

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Shares of NYSE:SHOP traded down $2.72 on Friday, hitting $117.42. The company’s stock had a trading volume of 1,089,927 shares, compared to its average volume of 1,757,297. Shopify Inc has a 12 month low of $67.45 and a 12 month high of $154.82. The stock has a market cap of $11,999.22, a price-to-earnings ratio of -279.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.83 and a current ratio of 10.82.

Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Thursday, February 15th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.09. The company had revenue of $222.80 million during the quarter, compared to analysts’ expectations of $209.70 million. Shopify Inc (US) had a negative return on equity of 4.74% and a negative net margin of 5.94%. The company’s revenue was up 70.9% on a year-over-year basis. equities research analysts predict that Shopify Inc will post -0.8 EPS for the current year.

Several equities analysts have recently weighed in on the company. National Bank Financial lifted their price objective on Shopify Inc (US) from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Vetr raised Shopify Inc (US) from a “buy” rating to a “strong-buy” rating and set a $159.15 price objective on the stock in a research note on Monday, March 26th. Morgan Stanley lifted their price objective on Shopify Inc (US) from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. Piper Jaffray boosted their price target on Shopify Inc (US) from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Finally, Canaccord Genuity reissued a “buy” rating and set a $155.00 price target (up from $115.00) on shares of Shopify Inc (US) in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $124.63.

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Shopify Inc (US) Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Institutional Ownership by Quarter for Shopify Inc (US) (NYSE:SHOP)

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