Olympiad Research LP Acquires New Holdings in Shopify Inc. (NYSE:SHOP)

Olympiad Research LP acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,018 shares of the software maker’s stock, valued at approximately $321,000.

Several other institutional investors also recently bought and sold shares of SHOP. Brooklyn Investment Group purchased a new position in Shopify during the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in Shopify in the fourth quarter worth $39,000. Mather Group LLC. grew its holdings in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in Shopify in the third quarter worth $45,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the topic of several analyst reports. Jefferies Financial Group lifted their price target on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. Citigroup lifted their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price target on shares of Shopify in a report on Wednesday, February 12th. Royal Bank of Canada lifted their price target on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Shopify in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Performance

Shares of Shopify stock opened at $115.40 on Friday. The firm has a 50-day simple moving average of $112.85 and a two-hundred day simple moving average of $95.38. The company has a market cap of $149.42 billion, a P/E ratio of 74.45, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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%. Equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.