62,574 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR acquired 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 acquired 62,574 shares of the software maker’s stock, valued at approximately $6,653,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its position in shares of Shopify by 5.7% during the third quarter. Empowered Funds LLC now owns 22,446 shares of the software maker’s stock valued at $1,799,000 after acquiring an additional 1,211 shares during the last quarter. Claro Advisors LLC acquired a new stake in shares of Shopify during the third quarter valued at about $456,000. Thrivent Financial for Lutherans increased its position in shares of Shopify by 100.6% during the third quarter. Thrivent Financial for Lutherans now owns 88,409 shares of the software maker’s stock valued at $7,086,000 after acquiring an additional 44,345 shares during the last quarter. Pathstone Holdings LLC increased its position in shares of Shopify by 3.8% during the third quarter. Pathstone Holdings LLC now owns 68,800 shares of the software maker’s stock valued at $5,514,000 after acquiring an additional 2,487 shares during the last quarter. Finally, Prospera Financial Services Inc increased its position in shares of Shopify by 1.7% during the third quarter. Prospera Financial Services Inc now owns 20,991 shares of the software maker’s stock valued at $1,682,000 after acquiring an additional 349 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of Shopify stock opened at $93.90 on Wednesday. The firm’s fifty day simple moving average is $110.27 and its 200-day simple moving average is $99.08. The stock has a market capitalization of $121.58 billion, a price-to-earnings ratio of 60.58, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its 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%. Analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SHOP. Evercore ISI lifted their price target on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Scotiabank lifted their price target on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays raised their price objective on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

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.