Shopify Inc. (NYSE:SHOP) is Baillie Gifford & Co.’s 4th Largest Position

Baillie Gifford & Co. lowered its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,776,512 shares of the software maker’s stock after selling 3,589,796 shares during the quarter. Shopify accounts for 4.9% of Baillie Gifford & Co.’s portfolio, making the stock its 4th biggest holding. Baillie Gifford & Co. owned about 4.63% of Shopify worth $6,356,037,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC purchased a new position in Shopify during the 4th quarter valued at $132,323,000. Swiss National Bank raised its position in Shopify by 0.9% during the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after purchasing an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC raised its position in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after purchasing an additional 7,027 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 0.6 %

Shares of SHOP opened at $128.36 on Monday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $128.57. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $165.85 billion, a price-to-earnings ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. The stock’s 50-day moving average price is $111.90 and its 200-day moving average price is $92.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results 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 11.60% and a net margin of 16.84%. On average, sell-side analysts predict that Shopify Inc. will post 0.91 EPS for the current year.

Analysts Set New Price Targets

SHOP has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 target price on shares of Shopify in a research report on Wednesday, February 12th. Moffett Nathanson lifted their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Scotiabank lifted their target price on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Oppenheimer lifted their target price on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price target on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.21.

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.