Objectivity Squared LLC Invests $343,000 in Shopify Inc. (NYSE:SHOP)

Objectivity Squared LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,399 shares of the software maker’s stock, valued at approximately $343,000.

Several other institutional investors also recently modified their holdings of SHOP. Yousif Capital Management LLC boosted its holdings in Shopify by 1.8% in the 3rd quarter. Yousif Capital Management LLC now owns 17,395 shares of the software maker’s stock valued at $949,000 after purchasing an additional 315 shares during the period. M&T Bank Corp raised its position in shares of Shopify by 2.9% in the 3rd quarter. M&T Bank Corp now owns 23,954 shares of the software maker’s stock valued at $1,307,000 after buying an additional 675 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Shopify by 8.7% in the 3rd quarter. Principal Financial Group Inc. now owns 229,177 shares of the software maker’s stock valued at $12,521,000 after buying an additional 18,302 shares in the last quarter. MGO One Seven LLC raised its position in shares of Shopify by 47.0% in the 3rd quarter. MGO One Seven LLC now owns 14,556 shares of the software maker’s stock valued at $794,000 after buying an additional 4,656 shares in the last quarter. Finally, Syon Capital LLC acquired a new position in shares of Shopify in the 3rd quarter valued at approximately $317,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

NYSE SHOP traded down $0.68 during trading hours on Friday, reaching $56.96. 8,510,431 shares of the company were exchanged, compared to its average volume of 10,420,188. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The business’s 50 day simple moving average is $70.67 and its 200-day simple moving average is $74.14. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $73.40 billion, a P/E ratio of -337.88, a P/E/G ratio of 2.68 and a beta of 2.20.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SHOP shares. Robert W. Baird dropped their target price on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Morgan Stanley upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $74.00 to $85.00 in a research report on Friday, April 19th. ATB Capital upped their price objective on shares of Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. Finally, Loop Capital decreased their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $77.06.

Read Our Latest Analysis on Shopify

Shopify Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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