Keystone Investors PTE Ltd. Makes New $2.05 Million Investment in Shopify Inc. (NYSE:SHOP)

Keystone Investors PTE Ltd. acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,270 shares of the software maker’s stock, valued at approximately $2,049,000.

A number of other hedge funds have also made changes to their positions in SHOP. Great Valley Advisor Group Inc. raised its stake in shares of Shopify by 16.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 13,966 shares of the software maker’s stock worth $1,119,000 after buying an additional 1,952 shares in the last quarter. Cerity Partners LLC lifted its holdings in Shopify by 35.8% in the 3rd quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock valued at $6,891,000 after acquiring an additional 22,667 shares during the last quarter. Centaurus Financial Inc. bought a new position in shares of Shopify during the 3rd quarter valued at about $104,000. Douglass Winthrop Advisors LLC grew its stake in shares of Shopify by 3.1% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 19,652 shares of the software maker’s stock worth $1,575,000 after purchasing an additional 597 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Shopify in the 3rd quarter worth approximately $660,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SHOP shares. TD Securities lifted their price target on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Oppenheimer lifted their price target on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. CIBC upped their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Up 5.0 %

Shares of SHOP opened at $109.41 on Tuesday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a market cap of $141.67 billion, a price-to-earnings ratio of 70.59, a P/E/G ratio of 4.82 and a beta of 2.60. The company has a 50-day moving average price of $110.19 and a two-hundred day moving average price of $100.01.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. Equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

About Shopify

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.