Y.D. More Investments Ltd Takes Position in Shopify Inc. (NYSE:SHOP)

Y.D. More Investments Ltd acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,676 shares of the software maker’s stock, valued at approximately $364,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SHOP. Triumph Capital Management acquired a new stake in Shopify during the 4th quarter worth approximately $217,000. Global Wealth Management Investment Advisory Inc. increased its position in Shopify by 5.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 16,727 shares of the software maker’s stock worth $1,303,000 after purchasing an additional 854 shares in the last quarter. Paces Ferry Wealth Advisors LLC acquired a new stake in Shopify during the 4th quarter worth approximately $250,000. Savant Capital LLC increased its position in Shopify by 1.8% during the 4th quarter. Savant Capital LLC now owns 10,425 shares of the software maker’s stock worth $812,000 after purchasing an additional 181 shares in the last quarter. Finally, Alpha Cubed Investments LLC increased its position in Shopify by 8.1% during the 4th quarter. Alpha Cubed Investments LLC now owns 136,672 shares of the software maker’s stock worth $10,647,000 after purchasing an additional 10,278 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SHOP shares. The Goldman Sachs Group increased their target price on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. ATB Capital increased their price objective on shares of Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Jefferies Financial Group increased their price objective on shares of Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, January 5th. National Bankshares increased their price objective on shares of Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Piper Sandler reaffirmed an “underweight” rating and issued a $63.00 price objective on shares of Shopify in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Hold” and an average target price of $78.62.

Shopify Price Performance

Shares of Shopify stock opened at $72.00 on Thursday. The company’s 50-day moving average price is $74.83 and its two-hundred day moving average price is $73.00. The stock has a market cap of $92.63 billion, a PE ratio of 782.09 and a beta of 2.20. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, sell-side analysts anticipate that Shopify Inc. will post 0.58 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.