Ossiam Has $12.83 Million Position in Shopify Inc. (NYSE:SHOP)

Ossiam raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,642 shares of the software maker’s stock after buying an additional 3,899 shares during the period. Ossiam’s holdings in Shopify were worth $12,833,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allianz SE purchased a new stake in shares of Shopify in the fourth quarter worth approximately $27,000. PFG Private Wealth Management LLC lifted its stake 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. Mark Sheptoff Financial Planning LLC grew its stake in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $39,000. Finally, Mather Group LLC. boosted its holdings 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 purchasing an additional 184 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 0.4 %

SHOP opened at $83.65 on Friday. The stock has a 50-day moving average price of $100.46 and a 200-day moving average price of $101.46. The stock has a market capitalization of $108.31 billion, a P/E ratio of 53.97, a PEG ratio of 4.82 and a beta of 2.82. 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 quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SHOP shares. Royal Bank of Canada cut their target price on Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Monday, February 10th. Jefferies Financial Group increased their price target on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 18th. Evercore ISI boosted their target price on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Oppenheimer lifted their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One investment 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.94.

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.