Summit Trail Advisors LLC Invests $335,000 in Shopify Inc. (NYSE:SHOP)

Summit Trail Advisors LLC bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,153 shares of the software maker’s stock, valued at approximately $335,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Baillie Gifford & Co. boosted its holdings in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. FMR LLC boosted its holdings in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Shopify by 6.3% during the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after acquiring an additional 484,561 shares during the period. National Bank of Canada FI increased its stake in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after acquiring an additional 1,621,981 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Shopify by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after purchasing an additional 471,280 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 2.5 %

NYSE SHOP opened at $120.46 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a one year low of $48.56 and a one year high of $125.95. The company has a 50-day simple moving average of $111.29 and a 200-day simple moving average of $91.82. The firm has a market capitalization of $155.65 billion, a PE ratio of 112.58, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, equities analysts forecast that Shopify Inc. will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SHOP shares. Morgan Stanley boosted their target price on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI increased their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays raised their target price on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday. New Street Research started coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average target price of $125.14.

About Shopify

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.