By otakuyassine3@gmail.com 
Empowered Funds LLC increased its position in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 39.7% during the 4th quarter, Holdings Channel reports. The firm owned 31,355 shares of the software maker’s stock after purchasing an additional 8,909 shares during the quarter. Empowered Funds LLC’s holdings in Shopify were worth $3,334,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in Shopify during the fourth quarter worth about $132,323,000. Swiss National Bank boosted its holdings in Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC boosted its holdings 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 purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in 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 purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.
Shopify Stock Performance
Shopify stock opened at $120.46 on Thursday. The firm’s fifty day moving average price is $111.29 and its 200-day moving average price is $91.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a market cap of $155.65 billion, a P/E ratio of 112.58, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $125.95.
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, equities research analysts expect that Shopify Inc. will post 0.91 earnings per share for the current fiscal year.
Analysts Set New Price Targets
SHOP has been the topic of several analyst reports. Mizuho boosted their target price on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Monday. Robert W. Baird boosted their target price on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI boosted their target price on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.14.
Read Our Latest Report on SHOP
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.
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