Simplicity Solutions LLC Has $834,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Simplicity Solutions LLC raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 17.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,705 shares of the software maker’s stock after acquiring an additional 1,608 shares during the period. Simplicity Solutions LLC’s holdings in Shopify were worth $834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its holdings in Shopify by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after buying an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Shopify by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock worth $2,233,344,000 after acquiring an additional 634,883 shares during the period. Norges Bank bought a new stake in shares of Shopify in the 4th quarter worth approximately $414,365,000. TD Asset Management Inc lifted its position in shares of Shopify by 4.4% in the 3rd quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock worth $389,052,000 after acquiring an additional 299,788 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Shopify by 6.5% in the 3rd quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock worth $339,750,000 after acquiring an additional 377,901 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 0.2 %

NYSE SHOP opened at $68.69 on Wednesday. The stock has a fifty day moving average of $77.45 and a 200-day moving average of $71.76. The stock has a market capitalization of $88.37 billion, a P/E ratio of 763.31 and a beta of 2.22. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, equities research analysts forecast that Shopify Inc. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on SHOP. Citigroup reduced their price objective on Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. UBS Group raised their target price on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. BNP Paribas downgraded Shopify from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 18th. Barclays cut their target price on Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 14th. Finally, DA Davidson raised their target price on Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.00.

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.