5,375 Shares in Shopify Inc. (NYSE:SHOP) Bought by SLT Holdings LLC

SLT Holdings LLC purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,375 shares of the software maker’s stock, valued at approximately $572,000.

A number of other hedge funds also recently modified their holdings of the stock. Sowell Financial Services LLC grew its position in Shopify by 2.6% in the fourth quarter. Sowell Financial Services LLC now owns 24,798 shares of the software maker’s stock valued at $2,637,000 after acquiring an additional 622 shares during the last quarter. Oak Harbor Wealth Partners LLC bought a new position in Shopify in the fourth quarter valued at about $262,000. Rialto Wealth Management LLC bought a new position in Shopify in the fourth quarter valued at about $698,000. AMF Tjanstepension AB bought a new position in Shopify in the fourth quarter valued at about $12,850,000. Finally, PCJ Investment Counsel Ltd. grew its position in Shopify by 1.1% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 65,730 shares of the software maker’s stock valued at $6,987,000 after acquiring an additional 710 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent analyst reports. Moffett Nathanson lifted their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 target price on shares of Shopify in a research report on Wednesday, February 12th. KeyCorp lifted their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Barclays lifted their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on Shopify from $120.00 to $135.00 and gave the company an “overweight” 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 2.4 %

NYSE SHOP opened at $100.00 on Friday. The company has a market cap of $129.48 billion, a price-to-earnings ratio of 64.52, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The business has a 50 day moving average price of $112.26 and a 200-day moving average price of $97.96.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly 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 return on equity of 12.00% and a net margin of 22.74%. On average, equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

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.