Semanteon Capital Management LP Takes $1.45 Million Position in Shopify Inc. (NYSE:SHOP)

Semanteon Capital Management LP bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,643 shares of the software maker’s stock, valued at approximately $1,451,000. Shopify comprises about 0.8% of Semanteon Capital Management LP’s holdings, making the stock its 25th largest position.

Several other hedge funds also recently modified their holdings of the stock. Whittier Trust Co. boosted its holdings in Shopify by 4.0% during the 4th quarter. Whittier Trust Co. now owns 5,262 shares of the software maker’s stock worth $560,000 after acquiring an additional 202 shares during the last quarter. BluePointe Capital Management LLC lifted its position in shares of Shopify by 5.3% during the fourth quarter. BluePointe Capital Management LLC now owns 10,285 shares of the software maker’s stock valued at $1,094,000 after purchasing an additional 522 shares in the last quarter. Blueshift Asset Management LLC boosted its holdings in Shopify by 71.7% during the fourth quarter. Blueshift Asset Management LLC now owns 9,380 shares of the software maker’s stock worth $997,000 after purchasing an additional 3,918 shares during the last quarter. Royal London Asset Management Ltd. grew its position in Shopify by 32.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 437,532 shares of the software maker’s stock worth $46,523,000 after purchasing an additional 107,650 shares in the last quarter. Finally, Kazazian Asset Management LLC bought a new stake in Shopify in the 4th quarter worth about $388,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 0.3 %

Shares of NYSE SHOP opened at $101.84 on Friday. The stock’s 50-day simple moving average is $110.03 and its two-hundred day simple moving average is $99.12. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market capitalization of $131.86 billion, a P/E ratio of 65.70, a P/E/G 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 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%. As a group, research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of research analyst reports. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Monday, February 10th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a research note on Friday, December 6th. UBS Group lifted their target price on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Barclays increased their price target on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, DA Davidson lifted their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.