Pictet Asset Management Holding SA Has $230.85 Million Holdings in Shopify Inc. (NYSE:SHOP)

Pictet Asset Management Holding SA raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,170,866 shares of the software maker’s stock after purchasing an additional 56,296 shares during the period. Pictet Asset Management Holding SA’s holdings in Shopify were worth $230,852,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC acquired a new stake in shares of Shopify during the 4th quarter worth $132,323,000. Watts Gwilliam & Co. LLC lifted its position in Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after purchasing an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in Shopify by 29.3% during 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 in the last quarter. Wahed Invest LLC increased its holdings in Shopify by 18.4% in the 3rd quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock valued at $4,618,000 after buying an additional 8,960 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Shopify in the 3rd quarter valued at approximately $33,676,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 1.6 %

NYSE SHOP opened at $102.64 on Friday. The business has a fifty day simple moving average of $110.35 and a 200 day simple moving average of $100.35. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm has a market capitalization of $132.90 billion, a P/E ratio of 66.22, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the topic of several analyst reports. Oppenheimer increased their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Evercore ISI lifted their price target on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. New Street Research initiated 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. The Goldman Sachs Group lifted their target price on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada set a $145.00 price target on shares of Shopify and gave the company an “outperform” rating in a research note on Friday, March 21st. One research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.