OVERSEA CHINESE BANKING Corp Ltd Purchases 6,276 Shares of Shopify Inc. (NYSE:SHOP)

OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 98.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,644 shares of the software maker's stock after buying an additional 6,276 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Shopify were worth $1,368,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SHOP. Tidemark LLC boosted its holdings in shares of Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after purchasing an additional 90 shares in the last quarter. Howland Capital Management LLC boosted its holdings 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 valued at $526,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont boosted its holdings 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 purchasing an additional 100 shares in the last quarter. First United Bank & Trust lifted its stake 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 last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker's stock valued at $1,162,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

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Shopify Stock Up 2.4 %

SHOP stock traded up $2.44 during mid-day trading on Friday, reaching $104.29. 8,690,629 shares of the company traded hands, compared to its average volume of 8,602,471. The stock has a market cap of $135.04 billion, a price-to-earnings ratio of 67.29, a P/E/G ratio of 4.82 and a beta of 2.60. 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 price is $110.04 and its 200 day moving average price is $99.53.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released 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%. On average, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on SHOP shares. Wedbush reiterated an "outperform" rating and issued a $125.00 price target on shares of Shopify in a research note on Tuesday, February 11th. Citigroup increased their price target on Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Piper Sandler increased their price target on Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, New Street Research started coverage on Shopify in a research note on Friday, January 10th. They issued a "neutral" rating and a $115.00 price target for the company. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.31.

About Shopify

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.