Napean Trading & Investment Co Singapore PTE Ltd lowered its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 28.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,809 shares of the software maker's stock after selling 40,496 shares during the period. Shopify accounts for about 2.7% of Napean Trading & Investment Co Singapore PTE Ltd's investment portfolio, making the stock its 15th largest holding. Napean Trading & Investment Co Singapore PTE Ltd's holdings in Shopify were worth $10,825,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in SHOP. Tidemark LLC grew its holdings in Shopify by 3.6% in the fourth 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 period. Howland Capital Management LLC grew its stake 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 worth $526,000 after buying an additional 99 shares during the last quarter. Trust Co. of Vermont increased its position in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after buying an additional 100 shares in the last quarter. First United Bank & Trust raised its stake in Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock valued at $488,000 after buying an additional 100 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker's stock worth $1,162,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SHOP. Wedbush reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Shopify in a research report on Tuesday, February 11th. Phillip Securities cut shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. Loop Capital upgraded shares of Shopify from a "hold" rating to a "buy" rating and increased their price target for the company from $110.00 to $140.00 in a report on Friday, December 6th. CIBC boosted their price objective on shares of Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, TD Securities increased their target price on Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.31.
View Our Latest Report on Shopify
Shopify Stock Up 0.6 %
NYSE:SHOP traded up $0.65 on Tuesday, reaching $109.93. 5,749,047 shares of the company's stock traded hands, compared to its average volume of 8,624,499. The firm has a market cap of $142.34 billion, a PE ratio of 70.92, a P/E/G ratio of 4.82 and a beta of 2.60. The stock has a 50-day simple moving average of $110.36 and a 200-day simple moving average of $100.31. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 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, equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.
Shopify Company Profile
(
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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