19,270 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 19,270 shares of the software maker’s stock, valued at approximately $2,049,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Great Valley Advisor Group Inc. grew its position in shares of Shopify by 16.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 13,966 shares of the software maker’s stock worth $1,119,000 after buying an additional 1,952 shares during the period. Cerity Partners LLC grew its holdings in Shopify by 35.8% during the 3rd quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock worth $6,891,000 after acquiring an additional 22,667 shares during the period. Centaurus Financial Inc. acquired a new position in shares of Shopify in the 3rd quarter valued at $104,000. Douglass Winthrop Advisors LLC boosted its position in shares of Shopify by 3.1% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 19,652 shares of the software maker’s stock worth $1,575,000 after purchasing an additional 597 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Shopify in the third quarter valued at about $660,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SHOP shares. Barclays increased their price target on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. New Street Research started coverage on Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. UBS Group boosted their target price on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Morgan Stanley lifted their price objective on shares of Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their target price on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Up 5.0 %

SHOP stock opened at $109.41 on Tuesday. The company’s 50-day moving average price is $110.19 and its two-hundred day moving average price is $100.01. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm has a market cap of $141.67 billion, a P/E ratio of 70.59, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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 predict that Shopify Inc. will post 1.12 EPS for the current 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.