Highview Capital Management LLC DE Purchases Shares of 10,549 Shopify Inc. (NYSE:SHOP)

Highview Capital Management LLC DE bought a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 10,549 shares of the software maker's stock, valued at approximately $1,122,000.

Several other large investors have also recently modified their holdings of the stock. Jennison Associates LLC bought a new stake in Shopify in the fourth quarter worth about $132,323,000. Swiss National Bank raised its holdings in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker's stock worth $293,507,000 after buying an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC lifted its stake in shares of Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock worth $1,431,000 after acquiring an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock valued at $27,409,000 after acquiring an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker's stock valued at $2,693,000 after acquiring an additional 7,027 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SHOP shares. UBS Group lifted their target price on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their target price on shares of Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Loop Capital raised shares of Shopify from a "hold" rating to a "buy" rating and lifted their price target for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Finally, Piper Sandler raised their price objective on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.31.

Shopify Stock Down 1.5 %

Shares of NYSE:SHOP traded down $1.94 during trading on Wednesday, hitting $127.37. The stock had a trading volume of 5,814,441 shares, compared to its average volume of 7,933,754. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The stock has a 50-day simple moving average of $112.48 and a two-hundred day simple moving average of $94.23. The stock has a market capitalization of $164.57 billion, a price-to-earnings ratio of 81.96, a price-to-earnings-growth ratio of 5.06 and a beta of 2.47.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, sell-side analysts forecast that Shopify Inc. will post 1.11 earnings per share for the current year.

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.