American Century Companies Inc. Has $155.65 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

American Century Companies Inc. grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,463,559 shares of the software maker’s stock after buying an additional 16,619 shares during the quarter. American Century Companies Inc.’s holdings in Shopify were worth $155,653,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Shopify in the fourth quarter valued at $3,315,000. Quantbot Technologies LP bought a new position in Shopify in the fourth quarter valued at about $6,503,000. Mindset Wealth Management LLC boosted its holdings in Shopify by 20.0% in the fourth quarter. Mindset Wealth Management LLC now owns 3,000 shares of the software maker’s stock valued at $319,000 after acquiring an additional 500 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Shopify by 5.9% in the fourth quarter. TD Private Client Wealth LLC now owns 16,281 shares of the software maker’s stock valued at $1,731,000 after acquiring an additional 905 shares during the last quarter. Finally, Independent Solutions Wealth Management LLC boosted its holdings in Shopify by 1.9% in the fourth quarter. Independent Solutions Wealth Management LLC now owns 39,873 shares of the software maker’s stock valued at $4,240,000 after acquiring an additional 729 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 2.4 %

NYSE:SHOP opened at $104.29 on Friday. 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 Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock’s 50 day moving average price is $110.04 and its two-hundred day moving average price is $99.53.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SHOP shares. Evercore ISI raised their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Truist Financial raised their target price on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. UBS Group raised their target price on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, ATB Capital raised 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. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Shopify currently 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.