Shopify Inc. (NYSE:SHOP) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 53.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,866 shares of the software maker’s stock after purchasing an additional 21,080 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Shopify were worth $4,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Management Partners LLC increased its position in Shopify by 0.9% in the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after acquiring an additional 126 shares during the period. SJS Investment Consulting Inc. boosted its stake in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. Tradition Wealth Management LLC boosted its stake in Shopify by 7.5% during the 4th quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock valued at $156,000 after purchasing an additional 140 shares in the last quarter. Pachira Investments Inc. boosted its stake in Shopify by 2.1% during the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after purchasing an additional 146 shares in the last quarter. Finally, Baldwin Brothers LLC MA boosted its stake in Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 0.3 %

NYSE SHOP traded up $0.18 during trading on Friday, hitting $66.91. 1,082,924 shares of the company traded hands, compared to its average volume of 10,155,695. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The business has a fifty day simple moving average of $63.73 and a 200 day simple moving average of $72.75. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $86.23 billion, a P/E ratio of -392.53, a PEG ratio of 3.35 and a beta of 2.30.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. As a group, sell-side analysts predict that Shopify Inc. will post 0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. CIBC decreased their price target on Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a research note on Thursday, May 9th. BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. DA Davidson reduced their price objective on Shopify from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Shopify 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.