Ossiam Increases Stock Position in Shopify Inc. (NYSE:SHOP)

Ossiam grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 120,642 shares of the software maker’s stock after buying an additional 3,899 shares during the quarter. Ossiam’s holdings in Shopify were worth $12,833,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. World Investment Advisors LLC increased its stake in shares of Shopify by 113.4% during the third quarter. World Investment Advisors LLC now owns 12,751 shares of the software maker’s stock valued at $1,022,000 after buying an additional 6,776 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Shopify in the 3rd quarter worth $615,000. Synovus Financial Corp bought a new stake in shares of Shopify during the 3rd quarter valued at about $481,000. Peapack Gladstone Financial Corp increased its position in shares of Shopify by 29.3% during the third quarter. Peapack Gladstone Financial Corp now owns 9,551 shares of the software maker’s stock valued at $765,000 after buying an additional 2,162 shares during the period. Finally, Beaird Harris Wealth Management LLC lifted its holdings in Shopify by 700.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 1,000 shares of the software maker’s stock worth $80,000 after buying an additional 875 shares during the period. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SHOP shares. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. ATB Capital raised their price objective on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Monday, February 10th. Oppenheimer upped their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Scotiabank lifted their target price on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.94.

Shopify Stock Performance

NYSE:SHOP opened at $83.65 on Friday. The stock has a 50-day simple moving average of $100.46 and a two-hundred day simple moving average of $101.46. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a market capitalization of $108.31 billion, a PE ratio of 53.97, a P/E/G ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Equities analysts forecast that Shopify Inc. will post 1.12 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.