120,849 Shares in Shopify Inc. (NYSE:SHOP) Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel.com reports. The fund bought 120,849 shares of the software maker’s stock, valued at approximately $12,850,000.

Other institutional investors have also recently bought and sold shares of the company. PFG Private Wealth Management LLC raised its stake in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in Shopify during the fourth quarter worth about $39,000. Mather Group LLC. raised its stake in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Shopify in the third quarter valued at approximately $33,000. Finally, Sierra Ocean LLC acquired a new position in shares of Shopify in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 2.4 %

NYSE SHOP opened at $100.00 on Friday. The company has a fifty day simple moving average of $112.26 and a 200 day simple moving average of $97.80. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a market cap of $129.48 billion, a P/E ratio of 64.52, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. Sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

SHOP has been the subject of several recent research reports. CIBC upped their price objective on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. KeyCorp upped their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a research note on Wednesday, February 12th. Evercore ISI upped their price objective on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

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.