12,500 Shares in Shopify Inc. (NYSE:SHOP) Acquired by JAT Capital Mgmt LP

JAT Capital Mgmt LP purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,500 shares of the software maker’s stock, valued at approximately $1,329,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC purchased a new position in shares of Shopify during the fourth quarter worth $132,323,000. Watts Gwilliam & Co. LLC boosted its position 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 buying an additional 4,641 shares during the period. Synovus Financial Corp purchased a new position in shares of Shopify during the third quarter worth $481,000. Western Financial Corp CA purchased a new position in shares of Shopify during the fourth quarter worth $239,000. Finally, Kessler Investment Group LLC purchased a new position in shares of Shopify during the fourth quarter worth $6,105,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SHOP. Wells Fargo & Company lifted their target price on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI lifted their target price on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. KeyCorp decreased their target price on Shopify from $140.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. TD Securities lifted their target price on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group lifted their target price on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Shopify Stock Up 0.4 %

SHOP opened at $98.92 on Wednesday. The business’s fifty day simple moving average is $95.72 and its 200 day simple moving average is $102.14. 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 $128.08 billion, a P/E ratio of 63.82, a PEG ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly 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 return on equity of 12.00% and a net margin of 22.74%. As a group, equities analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.