Summit Trail Advisors LLC Purchases New Position in Shopify Inc. (NYSE:SHOP)

Summit Trail Advisors LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,153 shares of the software maker’s stock, valued at approximately $335,000.

Several other hedge funds also recently made changes to their positions in SHOP. Brooklyn Investment Group purchased a new stake in Shopify in the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton raised its holdings in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $39,000. Mather Group LLC. grew its holdings in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in Shopify in the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SHOP shares. Morgan Stanley increased their price objective on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price target on shares of Shopify in a report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Royal Bank of Canada raised their target price on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their price target on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Price Performance

NYSE:SHOP opened at $120.46 on Thursday. The firm has a market cap of $155.65 billion, a price-to-earnings ratio of 112.58, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $125.95. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average is $111.29 and its two-hundred day moving average is $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Research analysts expect that Shopify Inc. will post 0.91 EPS for the current year.

Shopify 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.