Jefferies Group LLC boosted its stake in Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) by 75.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,114 shares of the software maker’s stock after purchasing an additional 6,490 shares during the quarter. Jefferies Group LLC’s holdings in Shopify Inc (US) were worth $1,527,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of SHOP. Coatue Management LLC raised its stake in Shopify Inc (US) by 166.8% during the fourth quarter. Coatue Management LLC now owns 7,006,613 shares of the software maker’s stock worth $707,668,000 after acquiring an additional 4,380,903 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Shopify Inc (US) during the fourth quarter worth about $39,580,000. Whale Rock Capital Management LLC raised its stake in Shopify Inc (US) by 37.7% during the third quarter. Whale Rock Capital Management LLC now owns 1,323,557 shares of the software maker’s stock worth $154,181,000 after acquiring an additional 362,527 shares in the last quarter. Mawer Investment Management Ltd. acquired a new position in Shopify Inc (US) during the third quarter worth about $34,256,000. Finally, Ontario Teachers Pension Plan Board raised its stake in Shopify Inc (US) by 40.1% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 705,434 shares of the software maker’s stock worth $71,506,000 after acquiring an additional 201,845 shares in the last quarter. 56.04% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on SHOP shares. Vetr downgraded Shopify Inc (US) from a “strong-buy” rating to a “buy” rating and set a $131.09 target price for the company. in a research note on Monday, January 22nd. Morgan Stanley boosted their target price on Shopify Inc (US) from $116.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. National Bank Financial boosted their target price on Shopify Inc (US) from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. DA Davidson boosted their target price on Shopify Inc (US) to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, Wedbush reissued an “outperform” rating and set a $140.00 target price (up previously from $120.00) on shares of Shopify Inc (US) in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $124.63.
Shares of SHOP stock opened at $117.42 on Friday. Shopify Inc has a one year low of $67.45 and a one year high of $154.82. The company has a market capitalization of $12,052.16, a P/E ratio of -279.57 and a beta of 1.29. The company has a current ratio of 10.82, a quick ratio of 10.83 and a debt-to-equity ratio of 0.01.
Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Thursday, February 15th. The software maker reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.09. Shopify Inc (US) had a negative return on equity of 4.74% and a negative net margin of 5.94%. The business had revenue of $222.80 million for the quarter, compared to analysts’ expectations of $209.70 million. The firm’s revenue was up 70.9% compared to the same quarter last year. sell-side analysts anticipate that Shopify Inc will post -0.8 EPS for the current fiscal year.
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Shopify Inc (US) Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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