Plato Investment Management Ltd Purchases 22,737 Shares of Shopify Inc. (NYSE:SHOP)

Plato Investment Management Ltd raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 77.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,263 shares of the software maker’s stock after buying an additional 22,737 shares during the quarter. Plato Investment Management Ltd’s holdings in Shopify were worth $5,581,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Bellecapital International Ltd. increased its holdings in Shopify by 10.8% in the 4th quarter. Bellecapital International Ltd. now owns 64,068 shares of the software maker’s stock valued at $6,812,000 after buying an additional 6,265 shares during the period. SBI Securities Co. Ltd. bought a new position in Shopify in the 4th quarter valued at about $4,589,000. Jones Financial Companies Lllp increased its holdings in Shopify by 33.9% in the 4th quarter. Jones Financial Companies Lllp now owns 54,412 shares of the software maker’s stock valued at $5,786,000 after buying an additional 13,775 shares during the period. Modera Wealth Management LLC bought a new position in Shopify in the 4th quarter valued at about $243,000. Finally, SRS Capital Advisors Inc. increased its holdings in Shopify by 4.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,392 shares of the software maker’s stock valued at $361,000 after buying an additional 159 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 1.0 %

Shopify stock opened at $111.97 on Monday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm’s fifty day moving average is $112.88 and its 200 day moving average is $97.12. The company has a market capitalization of $144.98 billion, a PE ratio of 72.24, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its 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%. Sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada lifted their price target on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Robert W. Baird lifted their price target on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company lifted their price target on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify 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.