Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 17,221 shares of the software maker's stock, valued at approximately $2,021,000.
Several other large investors have also modified their holdings of SHOP. QRG Capital Management Inc. purchased a new position in Shopify during the 3rd quarter worth approximately $227,000. CWA Asset Management Group LLC purchased a new position in shares of Shopify during the third quarter worth approximately $331,000. Washington Trust Advisors Inc. grew its position in shares of Shopify by 73.4% during the third quarter. Washington Trust Advisors Inc. now owns 1,543 shares of the software maker's stock worth $124,000 after acquiring an additional 653 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Shopify by 51.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 31,823 shares of the software maker's stock valued at $2,550,000 after acquiring an additional 10,848 shares during the period. Finally, Assetmark Inc. raised its position in Shopify by 6.6% in the 3rd quarter. Assetmark Inc. now owns 71,120 shares of the software maker's stock valued at $5,700,000 after purchasing an additional 4,392 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Phillip Securities lowered shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 17th. Morgan Stanley upped their price objective on Shopify from $126.00 to $144.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Royal Bank of Canada lifted their target price on Shopify from $130.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Benchmark upgraded Shopify from a "hold" rating to a "buy" rating and set a $150.00 price target for the company in a research note on Monday, February 10th. Finally, TD Securities lifted their price objective on shares of Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $126.31.
Check Out Our Latest Report on Shopify
Shopify Price Performance
NYSE:SHOP traded up $3.17 during trading hours on Wednesday, reaching $96.12. 2,872,844 shares of the company were exchanged, compared to its average volume of 8,512,813. The firm has a market cap of $124.45 billion, a price-to-earnings ratio of 62.06, a PEG ratio of 4.82 and a beta of 2.60. The stock has a 50 day simple moving average of $111.70 and a 200 day simple moving average of $98.36. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. On average, analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.
About Shopify
(
Free Report)
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.
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