Sapient Capital LLC Acquires New Shares in Shopify Inc. (NYSE:SHOP)

Sapient Capital LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 6,126 shares of the software maker’s stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. StoneCrest Wealth Management Inc. acquired a new position in Shopify during the 4th quarter valued at approximately $1,164,000. Asset Management One Co. Ltd. increased its stake in shares of Shopify by 4,007.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after acquiring an additional 34,624 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Shopify in the fourth quarter worth $433,000. Bleakley Financial Group LLC increased its stake in shares of Shopify by 18.5% in the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after acquiring an additional 1,681 shares during the period. Finally, Advisor Resource Council acquired a new stake in shares of Shopify in the fourth quarter worth $1,488,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of SHOP opened at $75.12 on Monday. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The firm’s 50 day moving average price is $74.73 and its 200 day moving average price is $73.42. The company has a market cap of $96.65 billion, a P/E ratio of 827.43 and a beta of 2.20. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. On average, research analysts forecast that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the subject of a number of recent analyst reports. Loop Capital cut their price objective on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 15th. Wells Fargo & Company cut their price objective on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. ATB Capital lifted their price objective on shares of Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Mizuho lifted their target price on shares of Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Roth Capital lifted their target price on shares of Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Shopify has a consensus rating of “Hold” and a consensus target price of $79.00.

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.