Choreo LLC Buys 895 Shares of Shopify Inc. (NYSE:SHOP)

Choreo LLC boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,096 shares of the software maker’s stock after purchasing an additional 895 shares during the quarter. Choreo LLC’s holdings in Shopify were worth $786,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Flaharty Asset Management LLC grew its holdings in shares of Shopify by 18.6% during the 4th quarter. Flaharty Asset Management LLC now owns 3,190 shares of the software maker’s stock worth $249,000 after purchasing an additional 500 shares in the last quarter. Once Capital Management LLC bought a new position in Shopify in the fourth quarter worth $1,948,000. Valmark Advisers Inc. increased its holdings in Shopify by 12.3% in the 4th quarter. Valmark Advisers Inc. now owns 7,993 shares of the software maker’s stock valued at $623,000 after buying an additional 874 shares during the period. Gilliland Jeter Wealth Management LLC bought a new stake in Shopify in the 4th quarter valued at $412,000. Finally, Cornerstone Capital Inc. raised its stake in shares of Shopify by 6.1% in the 4th quarter. Cornerstone Capital Inc. now owns 307,880 shares of the software maker’s stock valued at $23,984,000 after buying an additional 17,647 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 0.3 %

SHOP opened at $70.38 on Thursday. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The firm has a market cap of $90.55 billion, a PE ratio of 782.09 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The firm’s fifty day moving average is $74.83 and its two-hundred day moving average is $73.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Equities research analysts anticipate that Shopify Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of analyst reports. Loop Capital lowered their target price on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Wells Fargo & Company dropped their target price on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. CIBC upped their price target on Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. UBS Group boosted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Robert W. Baird upped their target price on shares of Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $78.62.

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.