Procyon Advisors LLC Has $3.45 Million Holdings in Shopify Inc. (NYSE:SHOP)

Procyon Advisors LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,315 shares of the software maker’s stock after purchasing an additional 646 shares during the quarter. Procyon Advisors LLC’s holdings in Shopify were worth $3,452,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Shopify in the fourth quarter worth $414,365,000. Artisan Partners Limited Partnership boosted its stake in Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after buying an additional 2,113,773 shares in the last quarter. Holocene Advisors LP acquired a new stake in Shopify in the second quarter valued at about $129,735,000. Marshall Wace LLP boosted its stake in Shopify by 44.1% in the second quarter. Marshall Wace LLP now owns 4,601,132 shares of the software maker’s stock valued at $297,233,000 after buying an additional 1,407,400 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Shopify in the third quarter valued at about $68,746,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 0.3 %

Shares of NYSE SHOP traded up $0.21 during mid-day trading on Thursday, hitting $78.83. 769,500 shares of the stock traded hands, compared to its average volume of 9,745,259. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. Shopify Inc. has a 52 week low of $43.50 and a 52 week high of $91.57. The company has a market cap of $101.42 billion, a price-to-earnings ratio of 873.65 and a beta of 2.22. The stock has a fifty day moving average price of $79.36 and a 200-day moving average price of $69.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Research analysts anticipate that Shopify Inc. will post 0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. National Bankshares boosted their price target on Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Barclays reduced their price target on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a report on Saturday, January 27th. The Goldman Sachs Group boosted their price target on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, Mizuho boosted their price target on Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Shopify has a consensus rating of “Hold” and a consensus target price of $76.42.

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.