Simmons Bank Makes New $295,000 Investment in Shopify Inc. (NYSE:SHOP)

Simmons Bank purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,775 shares of the software maker’s stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Shopify during the 3rd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton lifted its holdings in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in Shopify in the 4th quarter worth approximately $39,000. Mather Group LLC. lifted its holdings in 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. Finally, Truvestments Capital LLC bought a new position in shares of Shopify during the third quarter worth $45,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

SHOP stock opened at $110.72 on Friday. The business has a 50-day moving average price of $112.82 and a 200 day moving average price of $96.45. The company has a market capitalization of $143.36 billion, a P/E ratio of 71.43, a PEG ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly 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%. On average, analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SHOP shares. Mizuho upped their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research report on Wednesday, February 12th. DA Davidson raised their price objective on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Barclays lifted their price objective on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price objective on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target 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.