Swiss National Bank Has $305.14 Million Holdings in Shopify Inc. (NYSE:SHOP)

Swiss National Bank cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,912,100 shares of the software maker’s stock after selling 106,000 shares during the quarter. Swiss National Bank’s holdings in Shopify were worth $305,136,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fisher Asset Management LLC raised its position in Shopify by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 593,439 shares of the software maker’s stock valued at $46,229,000 after purchasing an additional 5,894 shares during the last quarter. JFG Wealth Management LLC bought a new position in Shopify in the fourth quarter valued at about $1,091,000. First Trust Direct Indexing L.P. raised its position in Shopify by 26.3% in the fourth quarter. First Trust Direct Indexing L.P. now owns 13,942 shares of the software maker’s stock valued at $1,086,000 after purchasing an additional 2,901 shares during the last quarter. Great Valley Advisor Group Inc. raised its position in Shopify by 4.4% in the fourth quarter. Great Valley Advisor Group Inc. now owns 13,871 shares of the software maker’s stock valued at $1,081,000 after purchasing an additional 583 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in Shopify in the fourth quarter valued at about $364,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP traded up $1.79 during mid-day trading on Thursday, hitting $72.19. The stock had a trading volume of 3,237,896 shares, compared to its average volume of 9,238,874. The firm has a market cap of $92.88 billion, a P/E ratio of 801.09 and a beta of 2.20. The business has a fifty day moving average price of $74.83 and a 200-day moving average price of $73.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. On average, equities research analysts expect that Shopify Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th. Roth Capital raised their price objective on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. UBS Group raised their price objective on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday. Finally, Citigroup upgraded Shopify from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $93.00 to $105.00 in a research report on Monday. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $78.62.

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.