Shopify Inc. (NYSE:SHOP) Position Increased by Orion Investment Co

Orion Investment Co boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,914 shares of the software maker’s stock after buying an additional 360 shares during the period. Shopify accounts for approximately 1.6% of Orion Investment Co’s investment portfolio, making the stock its 18th largest holding. Orion Investment Co’s holdings in Shopify were worth $4,031,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SHOP. Prudential PLC raised its position in shares of Shopify by 16.1% during the 4th quarter. Prudential PLC now owns 201,894 shares of the software maker’s stock worth $21,461,000 after buying an additional 28,026 shares in the last quarter. Resolute Advisors LLC raised its holdings in Shopify by 1.9% during the fourth quarter. Resolute Advisors LLC now owns 43,150 shares of the software maker’s stock worth $4,588,000 after purchasing an additional 820 shares in the last quarter. Uniting Wealth Partners LLC acquired a new position in shares of Shopify in the 4th quarter valued at $319,000. Grant Private Wealth Management Inc acquired a new stake in Shopify during the 4th quarter worth about $1,116,000. Finally, Spahn Wealth & Retirement LLC acquired a new position in shares of Shopify in the fourth quarter worth about $746,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $82.29 on Friday. The firm has a fifty day moving average of $109.29 and a 200-day moving average of $101.20. The stock has a market cap of $106.55 billion, a price-to-earnings ratio of 53.09, a P/E/G 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 posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. Piper Sandler increased their target price on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $125.00 price target on shares of Shopify in a report on Tuesday, February 11th. Wells Fargo & Company raised their price objective on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Truist Financial upped their price target on shares of Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. One equities 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

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.