Shopify Inc. (NYSE:SHOP) Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its stake in 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 purchasing 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.

Several other hedge funds also recently added to or reduced their stakes in the stock. Jennison Associates LLC acquired a new stake in Shopify during the 4th quarter valued at $132,323,000. Watts Gwilliam & Co. LLC raised its holdings in Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Shopify by 18.4% during the third quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock worth $4,618,000 after purchasing an additional 8,960 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Shopify in the third quarter valued at about $33,676,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the topic of several research analyst reports. Oppenheimer raised their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. New Street Research began coverage on shares of Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research note on Wednesday, February 12th. TD Securities lifted their target price on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company increased their price target on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Price Performance

SHOP stock opened at $96.51 on Monday. The company’s 50 day simple moving average is $110.21 and its 200-day simple moving average is $100.98. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a market capitalization 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 released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal 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.