AIA Group Ltd Buys 16,163 Shares of Shopify Inc. (NYSE:SHOP)

AIA Group Ltd boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,988 shares of the software maker’s stock after buying an additional 16,163 shares during the period. AIA Group Ltd’s holdings in Shopify were worth $9,503,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its position in Shopify by 82.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 35,368 shares of the software maker’s stock worth $2,754,000 after buying an additional 16,014 shares during the period. Elite Wealth Management Inc. bought a new position in Shopify in the 4th quarter worth approximately $239,000. Tyche Wealth Partners LLC bought a new position in Shopify in the 4th quarter worth approximately $293,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Shopify by 6.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 412,878 shares of the software maker’s stock worth $32,163,000 after buying an additional 23,341 shares during the period. Finally, Wealth Alliance increased its position in shares of Shopify by 26.7% during the fourth quarter. Wealth Alliance now owns 6,832 shares of the software maker’s stock valued at $532,000 after purchasing an additional 1,440 shares during the period. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

SHOP has been the topic of a number of research reports. Truist Financial boosted their price objective on Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 12th. UBS Group boosted their price objective on Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Jefferies Financial Group boosted their price objective on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, January 5th. Robert W. Baird boosted their price objective on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Shopify in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.00.

Shopify Trading Up 0.3 %

Shares of SHOP stock traded up $0.18 on Thursday, reaching $69.59. 5,623,778 shares of the stock were exchanged, compared to its average volume of 9,473,556. The stock has a market cap of $89.53 billion, a PE ratio of 782.75 and a beta of 2.22. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The stock has a 50 day moving average price of $77.14 and a 200 day moving average price of $71.75.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Equities research analysts forecast that Shopify Inc. will post 0.58 EPS for the current fiscal year.

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.