Dynamic Technology Lab Private Ltd Boosts Stock Holdings in Shopify Inc. (NYSE:SHOP)

Dynamic Technology Lab Private Ltd grew its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 55.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,790 shares of the software maker’s stock after buying an additional 4,549 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Shopify were worth $1,360,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SHOP. Allianz SE acquired a new position in Shopify during the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC boosted its position in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in Shopify in the fourth quarter valued at about $39,000. Finally, Mather Group LLC. lifted its stake 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 purchasing an additional 184 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 target price on shares of Shopify in a research note on Wednesday, February 12th. Citigroup boosted their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. CIBC raised their price target on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. Finally, Piper Sandler raised their price objective on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Down 6.6 %

Shopify stock opened at $76.89 on Friday. The firm has a 50-day moving average price of $108.67 and a two-hundred day moving average price of $101.41. The firm has a market capitalization of $99.56 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 4.82 and a beta of 2.81. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. Research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current 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.