Bellecapital International Ltd. Increases Stock Position in Shopify Inc. (NYSE:SHOP)

Bellecapital International Ltd. lifted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,068 shares of the software maker’s stock after buying an additional 6,265 shares during the quarter. Shopify comprises 1.2% of Bellecapital International Ltd.’s investment portfolio, making the stock its 26th biggest position. Bellecapital International Ltd.’s holdings in Shopify were worth $6,812,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Shopify during the 3rd quarter valued at approximately $33,000. New Wave Wealth Advisors LLC bought a new stake in Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. increased its holdings in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the period. Truvestments Capital LLC bought a new stake in Shopify during the 3rd quarter worth approximately $45,000. Finally, Sierra Ocean LLC bought a new stake in Shopify during the 4th quarter worth approximately $46,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SHOP shares. JPMorgan Chase & Co. upped their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. CIBC upped their target price on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

Shares of NYSE SHOP opened at $111.97 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a market cap of $144.98 billion, a P/E ratio of 72.24, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The firm has a 50-day moving average of $112.88 and a 200 day moving average of $96.94.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly 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 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 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.