Newman Dignan & Sheerar Inc. Acquires Shares of 2,070 Shopify Inc. (NYSE:SHOP)

Newman Dignan & Sheerar Inc. bought a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,070 shares of the software maker's stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHOP. Baillie Gifford & Co. increased its stake in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker's stock valued at $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC increased its position in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. National Bank of Canada FI increased its position in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker's stock worth $593,588,000 after purchasing an additional 1,621,981 shares during the period. Massachusetts Financial Services Co. MA increased its position in Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker's stock worth $308,390,000 after purchasing an additional 1,325,350 shares during the period. Finally, Jennison Associates LLC acquired a new stake in Shopify in the fourth quarter worth about $132,323,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Down 1.3 %

Shares of Shopify stock traded down $1.71 on Wednesday, reaching $127.60. 7,759,051 shares of the company were exchanged, compared to its average volume of 7,999,049. The company has a market capitalization of $164.87 billion, a price-to-earnings ratio of 82.32, a PEG ratio of 5.06 and a beta of 2.47. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company has a 50-day moving average of $112.48 and a 200 day moving average of $94.23.

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%. Analysts predict that Shopify Inc. will post 1.11 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on SHOP shares. Moffett Nathanson lifted their price objective on Shopify from $86.00 to $99.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Canaccord Genuity Group lifted their price objective on Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their price objective on Shopify from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $120.00 target price on shares of Shopify in a research report 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.