Lane & Associates LLC Invests $203,000 in Shopify Inc. (NYSE:SHOP)

Lane & Associates LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,739 shares of the software maker’s stock, valued at approximately $203,000.

Several other hedge funds have also modified their holdings of SHOP. Jennison Associates LLC acquired a new position in shares of Shopify during the 4th quarter worth about $132,323,000. Swiss National Bank raised its position in shares of Shopify by 0.9% during the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC raised its position in shares of Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup upped their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Wedbush restated an “outperform” rating and set a $125.00 price target on shares of Shopify in a research report on Tuesday, February 11th. Morgan Stanley increased their price objective on shares of Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. Finally, Moffett Nathanson increased their price objective on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Down 3.5 %

Shares of SHOP stock opened at $123.19 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market capitalization of $159.18 billion, a PE ratio of 79.48, a P/E/G ratio of 4.98 and a beta of 2.47. The firm has a 50 day moving average of $112.84 and a two-hundred day moving average of $94.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly 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%. 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.