Virtu Financial LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

Virtu Financial LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 31,174 shares of the software maker’s stock, valued at approximately $3,315,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Shopify by 30.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock worth $754,201,000 after purchasing an additional 1,647,374 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Shopify by 28.0% in 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 acquiring an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in Shopify during the fourth quarter worth about $132,323,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE SHOP opened at $104.29 on Friday. The company’s 50-day simple moving average is $110.04 and its two-hundred day simple moving average is $99.33. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company 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 announced its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. Equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on SHOP shares. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Monday, February 10th. Oppenheimer boosted their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Truist Financial boosted their price objective on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. ATB Capital lifted their target price on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Finally, Citigroup lifted their price target on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $126.31.

About Shopify

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.