Shopify Inc. (NYSE:SHOP) Stake Raised by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. increased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 42,452 shares of the software maker’s stock after purchasing an additional 3,618 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Shopify were worth $4,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in SHOP. Tidemark LLC grew its stake in shares of Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after purchasing an additional 90 shares in the last quarter. Howland Capital Management LLC grew its position in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after buying an additional 99 shares in the last quarter. Trust Co. of Vermont increased its stake in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after buying an additional 100 shares during the period. First United Bank & Trust raised its position in shares of Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after buying an additional 100 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after acquiring an additional 105 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Up 5.0 %

Shopify stock opened at $109.41 on Tuesday. The company has a market capitalization 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 Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm’s fifty day simple moving average is $110.19 and its 200-day simple moving average is $100.01.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 net margin of 22.74% and a return on equity of 12.00%. On average, equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SHOP shares. Wedbush reissued an “outperform” rating and set a $125.00 target price on shares of Shopify in a report on Tuesday, February 11th. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Monday, February 10th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Oppenheimer upped 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, Wells Fargo & Company lifted their price objective on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued 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 presently has a consensus 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.