State of Wisconsin Investment Board Has $511,000 Position in Shopify Inc. (SHOP)

State of Wisconsin Investment Board held its stake in Shopify Inc. (NYSE:SHOP) (TSE:SH) during the first quarter, Holdings Channel reports. The institutional investor owned 7,500 shares of the software maker’s stock at the end of the first quarter. State of Wisconsin Investment Board’s holdings in Shopify were worth $511,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Shopify by 0.6% in the fourth quarter. FMR LLC now owns 11,400,390 shares of the software maker’s stock valued at $488,735,000 after buying an additional 72,765 shares in the last quarter. Putnam Investments LLC increased its stake in shares of Shopify by 0.6% in the fourth quarter. Putnam Investments LLC now owns 1,508,633 shares of the software maker’s stock valued at $64,675,000 after buying an additional 8,377 shares in the last quarter. Scge Management L.P. bought a new stake in shares of Shopify during the fourth quarter valued at about $37,297,000. Federated Investors Inc. PA increased its stake in shares of Shopify by 9.1% in the fourth quarter. Federated Investors Inc. PA now owns 467,300 shares of the software maker’s stock valued at $20,033,000 after buying an additional 39,100 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Shopify during the fourth quarter valued at about $14,251,000. Institutional investors own 61.42% of the company’s stock.

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP) opened at 86.93 on Friday. The stock has a 50 day moving average of $89.75 and a 200-day moving average of $64.92. The company’s market cap is $7.95 billion. Shopify Inc. has a 12 month low of $26.35 and a 12 month high of $100.80.

Shopify (NYSE:SHOP) (TSE:SH) last posted its earnings results on Tuesday, May 2nd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. Shopify had a negative net margin of 9.01% and a negative return on equity of 11.26%. The firm had revenue of $127.40 million during the quarter, compared to analyst estimates of $121.67 million. During the same quarter in the prior year, the business posted ($0.06) EPS. The business’s revenue was up 75.2% compared to the same quarter last year. Equities research analysts expect that Shopify Inc. will post ($0.14) EPS for the current year.

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Several equities research analysts have recently issued reports on the stock. CSFB reissued an “outperform” rating and set a $128.00 price objective on shares of Shopify in a research report on Tuesday, May 23rd. Royal Bank Of Canada increased their price objective on shares of Shopify from $77.00 to $78.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 3rd. BTIG Research reissued a “buy” rating and set a $75.00 price objective (up previously from $65.00) on shares of Shopify in a research report on Tuesday, March 21st. BidaskClub downgraded shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Vetr downgraded shares of Shopify from a “sell” rating to a “strong sell” rating and set a $73.40 price objective for the company. in a research report on Monday, May 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $78.31.

Shopify Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

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