Oppenheimer Asset Management Inc. Boosts Stock Holdings in Shopify Inc. (NYSE:SHOP)

Oppenheimer Asset Management Inc. boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 320,834 shares of the software maker’s stock after purchasing an additional 34,158 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Shopify were worth $34,114,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SHOP. Brooklyn Investment Group purchased a new stake in shares of Shopify during the third quarter worth $33,000. Rosenberg Matthew Hamilton lifted its position in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the fourth quarter worth $39,000. Mather Group LLC. lifted its position in shares of 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. Finally, Truvestments Capital LLC purchased a new stake in shares of Shopify during the third quarter worth $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several recent research reports. Mizuho increased their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their price target on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Phillip Securities cut shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Finally, UBS Group upped their price target 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 investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Price Performance

Shares of SHOP opened at $113.46 on Thursday. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company has a 50-day simple moving average of $112.74 and a two-hundred day simple moving average of $96.35. The firm has a market capitalization of $146.91 billion, a PE ratio of 73.20, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results 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 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.

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.