J. Goldman & Co LP Takes Position in Shopify Inc. (NYSE:SHOP)

J. Goldman & Co LP bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 22,593 shares of the software maker’s stock, valued at approximately $2,402,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Guardian Wealth Advisors LLC NC increased its stake in shares of Shopify by 25.1% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,899 shares of the software maker’s stock valued at $521,000 after buying an additional 984 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Shopify by 55.6% in the fourth quarter. Focus Partners Wealth now owns 268,814 shares of the software maker’s stock valued at $28,610,000 after buying an additional 96,033 shares in the last quarter. Full Sail Capital LLC acquired a new stake in Shopify in the fourth quarter worth about $252,000. Elyxium Wealth LLC acquired a new stake in Shopify in the fourth quarter worth about $213,000. Finally, Fundsmith Investment Services LTD. acquired a new stake in Shopify in the fourth quarter worth about $10,221,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SHOP shares. DA Davidson lowered their price objective on Shopify from $150.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on Shopify from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday. BNP Paribas Exane lowered Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research report on Monday, May 5th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Finally, UBS Group lowered their price objective on Shopify from $125.00 to $110.00 and set a “neutral” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.37.

Shopify Stock Performance

NYSE SHOP opened at $91.77 on Monday. The stock has a market capitalization of $118.83 billion, a price-to-earnings ratio of 59.21, a PEG ratio of 4.82 and a beta of 2.66. The stock’s 50 day moving average price is $93.29 and its two-hundred day moving average price is $103.05. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.