Daiwa Securities Group Inc. Has $2.75 Million Position in Shopify Inc. (NYSE:SHOP)

Daiwa Securities Group Inc. raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 82.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,368 shares of the software maker’s stock after buying an additional 16,014 shares during the period. Daiwa Securities Group Inc.’s holdings in Shopify were worth $2,754,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SHOP. Fairfield Bush & CO. acquired a new stake in shares of Shopify during the 1st quarter valued at $169,000. Raymond James Trust N.A. raised its holdings in shares of Shopify by 26.5% during the 1st quarter. Raymond James Trust N.A. now owns 754 shares of the software maker’s stock valued at $510,000 after purchasing an additional 158 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Shopify by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker’s stock valued at $20,391,000 after purchasing an additional 592 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Shopify by 13.0% during the 1st quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker’s stock valued at $3,107,000 after purchasing an additional 527 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Shopify by 89.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker’s stock valued at $295,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SHOP. CIBC raised their price target on shares of Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. ATB Capital lifted their target price on shares of Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Wells Fargo & Company dropped their target price on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of Shopify in a report on Wednesday, February 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Hold” and a consensus price target of $78.30.

Shopify Price Performance

NYSE:SHOP opened at $69.67 on Monday. The firm has a market cap of $89.64 billion, a PE ratio of 774.20 and a beta of 2.22. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $76.35 and its two-hundred day moving average price is $72.12.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, equities analysts anticipate that Shopify Inc. will post 0.58 EPS for the current fiscal year.

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.