Addison Advisors LLC Has $62,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Addison Advisors LLC grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 54.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 586 shares of the software maker’s stock after purchasing an additional 207 shares during the period. Addison Advisors LLC’s holdings in Shopify were worth $62,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in Shopify in the fourth quarter worth $132,323,000. Swiss National Bank raised its holdings in shares of Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC raised its holdings in shares of Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after acquiring an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after acquiring an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after acquiring an additional 7,027 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP opened at $110.89 on Wednesday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The firm has a market cap of $143.58 billion, a P/E ratio of 71.54, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The firm’s 50-day simple moving average is $112.67 and its 200 day simple moving average is $96.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. As a group, equities analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective 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. Scotiabank raised their price objective on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their price objective on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. Finally, CIBC raised their target price on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

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.