GSA Capital Partners LLP Purchases Shares of 12,617 Shopify Inc. (NYSE:SHOP)

GSA Capital Partners LLP acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,617 shares of the software maker’s stock, valued at approximately $1,011,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its stake in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after acquiring an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. lifted its position in Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after purchasing an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after purchasing an additional 5,982,434 shares during the period. GQG Partners LLC increased its position in Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after buying an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after buying an additional 542,503 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. JMP Securities raised their price objective on shares of Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a research report on Wednesday. Evercore ISI lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Citigroup increased their price target on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Roth Mkm raised their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Stock Performance

Shopify stock opened at $108.48 on Friday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $115.62. The company’s 50-day moving average is $81.14 and its 200 day moving average is $70.77. The firm has a market capitalization of $139.98 billion, a P/E ratio of 101.39, a price-to-earnings-growth ratio of 3.71 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.10 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Shopify had a return on equity of 11.60% and a net margin of 16.84%. Research analysts forecast that Shopify Inc. will post 0.76 EPS for the current year.

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.