25,000 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Once Capital Management LLC

Once Capital Management LLC purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, Holdings Channel.com reports. The firm purchased 25,000 shares of the software maker’s stock, valued at approximately $1,948,000. Shopify accounts for approximately 1.4% of Once Capital Management LLC’s holdings, making the stock its 19th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in SHOP. SJS Investment Consulting Inc. increased its holdings in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares in the last quarter. Baldwin Brothers LLC MA increased its holdings in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after buying an additional 147 shares in the last quarter. Global Trust Asset Management LLC increased its holdings in shares of Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after buying an additional 350 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Shopify by 1,112.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock worth $47,000 after buying an additional 556 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Shopify during the fourth quarter worth approximately $51,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SHOP. Needham & Company LLC reissued a “hold” rating on shares of Shopify in a research note on Tuesday, April 16th. The Goldman Sachs Group increased their price target on shares of Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Mizuho raised their price objective on shares of Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley raised shares of Shopify from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $74.00 to $85.00 in a research note on Friday, April 19th. Finally, DA Davidson raised their price objective on shares of Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Shopify presently has an average rating of “Hold” and a consensus target price of $78.30.

Shopify Stock Performance

Shares of Shopify stock traded up $0.78 during trading on Friday, hitting $71.33. 4,611,766 shares of the stock were exchanged, compared to its average volume of 7,677,671. The stock has a market capitalization of $91.77 billion, a price-to-earnings ratio of 792.64 and a beta of 2.22. The company has a fifty day moving average price of $75.28 and a 200-day moving average price of $72.63. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, equities analysts predict that Shopify Inc. will post 0.58 EPS for the current fiscal 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.