Shopify Inc. (NYSE:SHOP) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,786 shares of the software maker’s stock after buying an additional 334 shares during the period. Maryland State Retirement & Pension System’s holdings in Shopify were worth $3,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHOP. Private Advisor Group LLC lifted its holdings in shares of Shopify by 7.5% in the fourth quarter. Private Advisor Group LLC now owns 31,572 shares of the software maker’s stock valued at $2,459,000 after purchasing an additional 2,208 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Shopify by 9.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 4,121 shares of the software maker’s stock valued at $321,000 after buying an additional 341 shares during the last quarter. Metis Global Partners LLC increased its position in Shopify by 6.3% during the fourth quarter. Metis Global Partners LLC now owns 55,083 shares of the software maker’s stock worth $4,288,000 after buying an additional 3,260 shares in the last quarter. Forte Capital LLC ADV acquired a new position in shares of Shopify in the fourth quarter worth $246,000. Finally, Vestmark Advisory Solutions Inc. lifted its position in shares of Shopify by 2,264.5% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 166,626 shares of the software maker’s stock valued at $12,980,000 after acquiring an additional 159,579 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE SHOP traded down $0.32 during midday trading on Tuesday, hitting $77.05. The company’s stock had a trading volume of 10,831,364 shares, compared to its average volume of 9,257,695. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The firm’s fifty day moving average price is $74.73 and its 200-day moving average price is $73.60. The firm has a market cap of $99.13 billion, a P/E ratio of 859.98 and a beta of 2.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, sell-side analysts forecast that Shopify Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. ATB Capital boosted their target price on shares of Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. Roth Capital raised their target price on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. UBS Group boosted their price target on Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Needham & Company LLC restated a “hold” rating on shares of Shopify in a report on Tuesday, April 16th. Finally, Robert W. Baird upped their target price on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.00.

Shopify Company 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.