Ossiam Purchases 25,206 Shares of Shopify Inc. (NYSE:SHOP)

Ossiam lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 38.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,103 shares of the software maker’s stock after purchasing an additional 25,206 shares during the quarter. Ossiam’s holdings in Shopify were worth $7,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Janney Montgomery Scott LLC grew its position in Shopify by 31.0% in the third quarter. Janney Montgomery Scott LLC now owns 94,682 shares of the software maker’s stock valued at $5,167,000 after acquiring an additional 22,384 shares during the period. Van ECK Associates Corp increased its position in shares of Shopify by 17.5% during the 3rd quarter. Van ECK Associates Corp now owns 76,172 shares of the software maker’s stock worth $4,157,000 after purchasing an additional 11,352 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Shopify by 21.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 25,570 shares of the software maker’s stock valued at $1,395,000 after purchasing an additional 4,470 shares during the last quarter. Pathstone Family Office LLC grew its stake in Shopify by 282.4% during the third quarter. Pathstone Family Office LLC now owns 25,764 shares of the software maker’s stock worth $1,406,000 after buying an additional 19,027 shares during the last quarter. Finally, Ausdal Financial Partners Inc. increased its holdings in shares of Shopify by 5.2% during the third quarter. Ausdal Financial Partners Inc. now owns 4,140 shares of the software maker’s stock worth $226,000 after buying an additional 204 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent analyst reports. Benchmark reissued a “hold” rating on shares of Shopify in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. JMP Securities raised shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, May 9th. Morgan Stanley raised shares of Shopify from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $85.00 in a research note on Friday, April 19th. Finally, Wells Fargo & Company decreased their price target on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Shopify presently has a consensus rating of “Hold” and a consensus price target of $76.74.

Shopify Stock Up 0.2 %

Shares of NYSE:SHOP traded up $0.13 during midday trading on Friday, reaching $61.59. 7,099,220 shares of the company were exchanged, compared to its average volume of 11,824,416. The firm has a market cap of $79.37 billion, a PE ratio of -362.29, a P/E/G ratio of 2.82 and a beta of 2.27. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The stock has a fifty day simple moving average of $66.49 and a two-hundred day simple moving average of $73.79.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, sell-side analysts forecast that Shopify Inc. will post 0.59 earnings per share for the current 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.