IQ EQ FUND MANAGEMENT IRELAND Ltd Has $2.57 Million Holdings in Shopify Inc. (NYSE:SHOP)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 137.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,205 shares of the software maker’s stock after buying an additional 14,027 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Shopify were worth $2,574,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Shopify by 30.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock worth $754,201,000 after acquiring an additional 1,647,374 shares in the last quarter. National Bank of Canada FI grew its holdings in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Jennison Associates LLC acquired a new position in Shopify during the fourth quarter valued at approximately $132,323,000. Congress Asset Management Co. bought a new position in shares of Shopify in the fourth quarter valued at approximately $84,074,000. Finally, Vanguard Group Inc. lifted its stake in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after buying an additional 781,162 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 5.0 %

Shopify stock opened at $104.32 on Thursday. The business’s 50-day simple moving average is $110.36 and its 200 day simple moving average is $100.34. The stock has a market cap of $135.07 billion, a price-to-earnings ratio of 67.30, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. As a group, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

SHOP has been the topic of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. Citigroup lifted their price objective on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley increased their target price on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price target on shares of Shopify in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada set a $145.00 price objective on Shopify and gave the company an “outperform” rating in a research report on Friday, March 21st. One equities research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Company 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.