OVERSEA CHINESE BANKING Corp Ltd Purchases 6,276 Shares of Shopify Inc. (NYSE:SHOP)

OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 98.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,644 shares of the software maker’s stock after acquiring an additional 6,276 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Shopify were worth $1,368,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. PFG Private Wealth Management LLC boosted its position in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify in the 4th quarter worth approximately $39,000. Mather Group LLC. boosted its position in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify in the 3rd quarter worth approximately $33,000. Finally, Sierra Ocean LLC bought a new stake in shares of Shopify in the 4th quarter worth approximately $46,000. 69.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of analyst reports. CIBC boosted their price target on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Evercore ISI boosted their price target on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group boosted their price target on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, UBS Group boosted their price objective on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Price Performance

Shares of SHOP stock opened at $101.69 on Thursday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a fifty day moving average price of $110.15 and a 200-day moving average price of $99.10. The company has a market cap of $131.66 billion, a price-to-earnings ratio of 65.60, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current 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.