Fidelity Management & Research Co recently announced the acquisition of new stake in Shopify Inc (NYSE:SHOP). The institutional investor has increased its shareholding in the Technology company by 16.79% to 34.05 million shares with purchase of 4.89 million shares. This fresh investment now brings its stake to 2.82% valued currently at $2.48 billion. In addition, Capital Research & Management Co raised its holdings by 2.41 million to 30.64 million shares. And The Vanguard Group, Inc. has lifted its position by 1.06% or 0.29 million shares – to 27.61 million shares.
Currently, there are 1.20B common shares owned by the public and among those 1.16B shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The top 3 mutual fund holders in Shopify Inc are American Funds EuroPacific Growth, American Funds Growth Fund of Ame, and Vanguard Total International Stoc. American Funds EuroPacific Growth owns 26.31 million shares of the company’s stock, all valued at over $1.92 billion. The company sold -4.39 million shares recently to bring their total holdings to about 2.18% of the shares outstanding. American Funds Growth Fund of Ame bought 0.57 million shares to see its total holdings expand to 17.66 million shares valued at over $1.29 billion and representing 1.47% of the shares outstanding. Vanguard Total International Stoc bought 0.13 million shares to bring its total holdings to over 15.48 million shares at a value of $1.13 billion. Vanguard Total International Stoc now owns shares totaling to 1.28% of the shares outstanding.
However, the script later moved the day high at 77.47, up 0.40%. The company’s stock has a 5-day price change of 5.93% and 32.23% over the past three months. SHOP shares are trading 122.21% year to date (YTD), with the 12-month market performance up to 111.95% higher. It has a 12-month low price of $32.35 and touched a high of $77.95 over the same period. SHOP has an average intraday trading volume of 11.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.20%, 23.78%, and 33.22% respectively.
Institutional ownership of Shopify Inc (NYSE: SHOP) shares accounts for 61.99% of the company’s 1.20B shares outstanding. Mutual fund holders own 24.63%, while other institutional holders and individual stakeholders account for 41.76% and — respectively.
It has a market capitalization of $99.10B and a beta (3y monthly) value of 2.28. The earnings-per-share (ttm) stands at -$0.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.92% over the week and 3.14% over the month.
Analysts forecast that Shopify Inc (SHOP) will achieve an EPS of $0.31 for the current quarter, $0.21 for the next quarter and $1.04 for 2024. The lowest estimate earnings-per-share for the quarter is $0.21 while analysts give the company a high EPS estimate of $0.57. Comparatively, EPS for the current quarter was $0.07 a year ago. Earnings per share for the fiscal year are expected to increase by 1632.04%, and 49.23% over the next financial year.
