Quantbot Technologies LP Takes $6.50 Million Position in Shopify Inc. (NYSE:SHOP)

Quantbot Technologies LP purchased a new position 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 purchased 61,155 shares of the software maker's stock, valued at approximately $6,503,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SHOP. Jennison Associates LLC purchased a new position in Shopify during the 4th quarter valued at $132,323,000. Watts Gwilliam & Co. LLC boosted its stake in shares of Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock valued at $1,431,000 after purchasing an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock worth $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Wahed Invest LLC increased its stake in Shopify by 18.4% in the 3rd quarter. Wahed Invest LLC now owns 57,624 shares of the software maker's stock worth $4,618,000 after buying an additional 8,960 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Shopify during the 3rd quarter valued at about $33,676,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NYSE SHOP traded up $0.25 during midday trading on Tuesday, hitting $109.53. 3,025,619 shares of the company's stock were exchanged, compared to its average volume of 8,608,385. The firm's fifty day simple moving average is $110.19 and its 200-day simple moving average is $100.01. The company has a market cap of $141.82 billion, a PE ratio of 70.71, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Remove Ads

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. Equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SHOP. New Street Research began coverage on Shopify in a report on Friday, January 10th. They issued a "neutral" rating and a $115.00 target price for the company. Wells Fargo & Company upped their target price on Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. UBS Group boosted their price target on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. ATB Capital raised their price objective on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Finally, JMP Securities reissued a "market outperform" rating and set a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $126.31.

Shopify 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.