O Shaughnessy Asset Management LLC Boosts Stake in Shopify Inc. (NYSE:SHOP)

O Shaughnessy Asset Management LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 50.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,806 shares of the software maker’s stock after acquiring an additional 60,354 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Shopify were worth $19,221,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SHOP. Tidemark LLC lifted its position in Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after acquiring an additional 90 shares during the last quarter. Howland Capital Management LLC lifted 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 during the last quarter. Trust Co. of Vermont boosted its position 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 during the period. First United Bank & Trust grew its stake in Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after buying an additional 100 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

NYSE SHOP opened at $96.51 on Monday. The company has a 50-day moving average of $110.21 and a 200-day moving average of $100.98. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a market cap of $124.96 billion, a P/E ratio of 62.27, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

SHOP has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Morgan Stanley boosted their price target on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Oppenheimer increased their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI boosted their target price on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

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.