PDT Partners LLC Has $3.93 Million Stake in Shopify Inc. $SHOP

PDT Partners LLC lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 41,171 shares of the software maker’s stock after purchasing an additional 371 shares during the quarter. PDT Partners LLC’s holdings in Shopify were worth $3,931,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SHOP. LRI Investments LLC raised its position in shares of Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock worth $94,000 after acquiring an additional 79 shares in the last quarter. Quadcap Wealth Management LLC grew its stake in Shopify by 0.9% during the first quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker’s stock worth $1,063,000 after purchasing an additional 103 shares during the period. Fullcircle Wealth LLC increased its holdings in Shopify by 2.7% in the first quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker’s stock worth $418,000 after purchasing an additional 110 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Shopify by 3.4% in the first quarter. Avidian Wealth Enterprises LLC now owns 3,533 shares of the software maker’s stock valued at $337,000 after buying an additional 116 shares during the period. Finally, SVB Wealth LLC lifted its stake in Shopify by 2.2% in the first quarter. SVB Wealth LLC now owns 5,415 shares of the software maker’s stock valued at $517,000 after buying an additional 119 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on SHOP shares. Morgan Stanley raised their price objective on shares of Shopify from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Citigroup raised their price target on shares of Shopify from $155.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 8th. BMO Capital Markets lifted their price target on shares of Shopify from $120.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Jefferies Financial Group cut their price objective on shares of Shopify from $130.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Finally, Barclays boosted their target price on Shopify from $94.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Twenty-four equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.27.

Shopify Price Performance

NYSE:SHOP opened at $141.28 on Monday. Shopify Inc. has a one year low of $65.86 and a one year high of $156.85. The company has a market cap of $183.62 billion, a PE ratio of 91.15, a PEG ratio of 4.82 and a beta of 2.63. The firm has a 50-day moving average of $127.97 and a 200-day moving average of $110.43.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.00% and a net margin of 22.74%.The company’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. On average, equities research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify 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.