Semanteon Capital Management LP Takes $1.45 Million Position in Shopify Inc. (NYSE:SHOP)

Semanteon Capital Management LP acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, HoldingsChannel reports. The fund acquired 13,643 shares of the software maker’s stock, valued at approximately $1,451,000. Shopify makes up approximately 0.8% of Semanteon Capital Management LP’s investment portfolio, making the stock its 25th biggest holding.

A number of other hedge funds also recently bought and sold shares of the company. Tidemark LLC raised its stake in shares of Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after acquiring an additional 90 shares in the last quarter. Howland Capital Management LLC grew its holdings in shares of Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares during the last quarter. Trust Co. of Vermont raised its position in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust lifted its stake in Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SHOP. JPMorgan Chase & Co. lifted their price objective on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Oppenheimer lifted their price target on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. CIBC increased their price objective on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, TD Securities upped their price target on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Up 0.3 %

Shares of SHOP opened at $101.84 on Friday. The stock has a market cap of $131.86 billion, a P/E ratio of 65.70, a P/E/G ratio of 4.82 and a beta of 2.60. The business’s 50 day moving average price is $110.03 and its 200-day moving average price is $99.12. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. On average, equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

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.