Generali Asset Management SPA SGR Invests $6.65 Million in Shopify Inc. (NYSE:SHOP)

Generali Asset Management SPA SGR purchased a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 62,574 shares of the software maker's stock, valued at approximately $6,653,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. Tidemark LLC raised its holdings in shares of Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after purchasing an additional 90 shares during the period. Howland Capital Management LLC raised its holdings in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont raised its holdings in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust raised its holdings in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock valued at $488,000 after purchasing an additional 100 shares during the period. Finally, Sunbelt Securities Inc. raised its holdings in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker's stock valued at $1,162,000 after purchasing an additional 105 shares during the period. 69.27% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Citigroup increased their price target on shares of Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Moffett Nathanson increased their price target on shares of Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Robert W. Baird increased their price target on shares of Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $126.31.

Shopify Stock Up 2.4 %

Shares of NYSE SHOP traded up $2.44 during midday trading on Friday, reaching $104.29. 8,690,629 shares of the company were exchanged, compared to its average volume of 8,586,306. The stock's 50-day moving average price is $110.04 and its 200-day moving average price is $99.33. The stock has a market cap of $135.04 billion, a P/E ratio of 67.29, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a one year low of $48.56 and a one year 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 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, equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current 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.