Kirtland Hills Capital Management LLC Purchases 471 Shares of Shopify Inc. (NYSE:SHOP)

Kirtland Hills Capital Management LLC raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,164 shares of the software maker’s stock after purchasing an additional 471 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Shopify were worth $443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC bought a new stake in Shopify during the 4th quarter valued at about $132,323,000. Swiss National Bank grew its stake in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC grew its stake in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after acquiring an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after buying an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after buying an additional 7,027 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Down 4.0 %

SHOP stock opened at $110.89 on Wednesday. The firm’s fifty day simple moving average is $112.67 and its two-hundred day simple moving average is $96.23. The stock has a market capitalization of $143.58 billion, a price-to-earnings ratio of 71.54, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly 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 return on equity of 12.00% and a net margin of 22.74%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on SHOP. Scotiabank raised their price objective on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Robert W. Baird lifted their price target on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Oppenheimer lifted their price target on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Moffett Nathanson lifted their price target on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

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.