Shopify Inc. (NYSE:SHOP) Shares Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 55.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,790 shares of the software maker's stock after purchasing an additional 4,549 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Shopify were worth $1,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Tidemark LLC grew its position in Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock worth $276,000 after purchasing an additional 90 shares during the last quarter. Howland Capital Management LLC grew its holdings in shares of Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after buying an additional 99 shares during the last quarter. Trust Co. of Vermont increased its position 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 acquiring an additional 100 shares during the period. First United Bank & Trust increased its position 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 acquiring an additional 100 shares during the period. Finally, Mark Sheptoff Financial Planning LLC raised its stake in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

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Shopify Price Performance

NYSE SHOP traded down $3.21 during trading hours on Friday, hitting $81.42. 9,849,335 shares of the company's stock traded hands, compared to its average volume of 9,208,214. The company has a market capitalization of $105.43 billion, a PE ratio of 52.72, a PEG ratio of 4.82 and a beta of 2.82. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm's 50-day moving average is $104.84 and its 200-day moving average is $101.45.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly 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 net margin of 22.74% and a return on equity of 12.00%. Equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Evercore ISI increased their price objective on Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Barclays increased their price target on shares of Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Citigroup lifted their price objective on shares of Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. CIBC increased their price objective on shares of Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada set a $145.00 target price on shares of Shopify and gave the company an "outperform" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $126.31.

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.