603 Shares in Shopify Inc. (NYSE:SHOP) Bought by Kestra Investment Management LLC

Kestra Investment Management 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 Securities & Exchange Commission. The institutional investor bought 603 shares of the software maker’s stock, valued at approximately $64,000.

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

Shopify Trading Down 6.5 %

SHOP stock opened at $115.40 on Friday. The firm has a 50 day moving average of $112.85 and a 200-day moving average of $95.10. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm has a market capitalization of $149.10 billion, a P/E ratio of 74.45, a price-to-earnings-growth ratio of 4.98 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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 topic of a number of recent research reports. ATB Capital raised their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Barclays increased their target price on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. Finally, DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.