Atika Capital Management LLC Invests $6.49 Million in Shopify Inc. (NYSE:SHOP)

Atika Capital Management LLC bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 61,000 shares of the software maker’s stock, valued at approximately $6,486,000.

A number of other large investors have also added to or reduced their stakes in SHOP. Allianz SE acquired a new stake in shares of Shopify during the fourth quarter valued at about $27,000. PFG Private Wealth Management LLC grew its stake in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify in the 4th quarter valued at approximately $39,000. Finally, Mather Group LLC. boosted its stake in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

SHOP opened at $76.89 on Friday. The business has a 50 day moving average price of $108.67 and a two-hundred day moving average price of $101.41. The company has a market capitalization of $99.56 billion, a price-to-earnings ratio of 49.61, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 22.74% and a return on equity of 12.00%. Equities analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SHOP. DA Davidson upped their price target on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada set a $145.00 price target on shares of Shopify and gave the stock an “outperform” rating in a research report on Friday, March 21st. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Monday, February 10th. Finally, Barclays boosted their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

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.