Orion Portfolio Solutions LLC reduced its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,877 shares of the software maker's stock after selling 8,814 shares during the period. Orion Portfolio Solutions LLC's holdings in Shopify were worth $9,876,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the business. Jennison Associates LLC bought a new position in Shopify during the fourth quarter worth $132,323,000. Watts Gwilliam & Co. LLC lifted its position in Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock worth $1,431,000 after acquiring an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Shopify by 29.3% during 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 acquiring an additional 77,500 shares during the period. Wahed Invest LLC grew its position in shares of Shopify by 18.4% in the third quarter. Wahed Invest LLC now owns 57,624 shares of the software maker's stock valued at $4,618,000 after purchasing an additional 8,960 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Shopify during the third quarter worth approximately $33,676,000. 69.27% of the stock is owned by institutional investors.
Shopify Trading Up 3.7 %
SHOP stock traded up $3.58 during trading on Tuesday, hitting $99.06. The company had a trading volume of 3,789,990 shares, compared to its average volume of 8,775,991. The stock has a market cap of $128.26 billion, a PE ratio of 63.88, a PEG ratio of 4.82 and a beta of 2.60. The business has a 50-day moving average of $110.06 and a 200-day moving average of $101.15. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.
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 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%. Research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on SHOP shares. Evercore ISI boosted their price target on Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Robert W. Baird raised their price target on shares of Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Scotiabank boosted their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. CIBC increased their target price on shares of Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Finally, TD Securities lifted their price target on shares of Shopify from $100.00 to $130.00 and gave the company a "hold" rating 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.31.
Read Our Latest Stock Report on Shopify
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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