Stonebridge Financial Group LLC Takes $89,000 Position in Shopify Inc. (NYSE:SHOP)

Stonebridge Financial Group LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, Holdings Channel.com reports. The fund bought 835 shares of the software maker’s stock, valued at approximately $89,000.

Several other large investors also recently bought and sold shares of SHOP. Baillie Gifford & Co. grew its position in shares of Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC lifted its stake in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. National Bank of Canada FI grew its holdings in Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after acquiring an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Shopify in the 4th quarter valued at $132,323,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 2.5 %

SHOP stock opened at $120.46 on Thursday. 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 price is $111.29 and its 200 day moving average price is $91.82. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $125.95. The company has a market cap of $155.65 billion, a P/E ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Monday. CIBC boosted their target price on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday. ATB Capital increased their price target on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $125.14.

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.