O Shaughnessy Asset Management LLC raised its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 50.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,806 shares of the software maker's stock after buying an additional 60,354 shares during the period. O Shaughnessy Asset Management LLC's holdings in Shopify were worth $19,221,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Allianz SE acquired a new stake in Shopify in the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC increased its stake in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after buying an additional 100 shares in the last quarter. Brooklyn Investment Group acquired a new position in Shopify during the 3rd quarter valued at about $33,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Shopify during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 69.27% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Jefferies Financial Group upped their price target on Shopify from $110.00 to $130.00 and gave the stock a "hold" rating in a report on Tuesday, February 18th. Barclays boosted their target price on Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Scotiabank raised their target price on Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Benchmark upgraded shares of Shopify from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a research note on Monday, February 10th. Finally, CIBC upped their price objective on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $126.31.
Check Out Our Latest Research Report on Shopify
Shopify Price Performance
NYSE:SHOP traded up $3.01 during midday trading on Wednesday, hitting $100.65. The company's stock had a trading volume of 7,587,507 shares, compared to its average volume of 8,802,637. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm's 50 day moving average is $109.88 and its 200-day moving average is $101.33. The firm has a market cap of $130.32 billion, a P/E ratio of 64.94, a P/E/G ratio of 4.82 and a beta of 2.81.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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, analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.
Shopify 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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