3,176 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd 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 firm bought 3,176 shares of the software maker’s stock, valued at approximately $247,000.

Several other institutional investors also recently bought and sold shares of SHOP. SJS Investment Consulting Inc. lifted its holdings in shares of 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 during the last quarter. Baldwin Brothers LLC MA grew its stake in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the last quarter. Global Trust Asset Management LLC increased its holdings in shares of Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after acquiring an additional 350 shares in the last quarter. Salem Investment Counselors Inc. raised its position in shares of Shopify by 1,112.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after purchasing an additional 556 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in Shopify in the 4th quarter worth approximately $51,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOP has been the topic of a number of recent analyst reports. BNP Paribas lowered shares of Shopify from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 18th. Citigroup reduced their target price on Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Wedbush reiterated a “neutral” rating and set a $68.00 price target on shares of Shopify in a research note on Tuesday, February 13th. Loop Capital reduced their price objective on Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Finally, Roth Capital upped their target price on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $78.30.

Shopify Price Performance

Shares of NYSE SHOP opened at $70.55 on Friday. The firm has a 50-day simple moving average of $75.48 and a 200-day simple moving average of $72.38. 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 stock has a market capitalization of $90.77 billion, a price-to-earnings ratio of 783.98 and a beta of 2.22. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

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