Bailard Inc. Takes $2.64 Million Position in Shopify Inc. (NYSE:SHOP)

Bailard Inc. bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 33,910 shares of the software maker’s stock, valued at approximately $2,642,000.

Several other institutional investors have also recently bought and sold shares of SHOP. Wealth Management Partners LLC grew its holdings in Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after purchasing an additional 126 shares during the period. SJS Investment Consulting Inc. lifted its stake in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the last quarter. Pachira Investments Inc. lifted its holdings in shares of Shopify by 2.1% in the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after acquiring an additional 146 shares during the last quarter. Baldwin Brothers LLC MA grew its position in Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the last quarter. Finally, Capital Advisors Inc. OK raised its stake in shares of Shopify by 1.7% during the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock valued at $723,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday. UBS Group lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. CIBC raised their price objective on Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Citigroup lowered their target price on Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Finally, Jefferies Financial Group raised their price objective on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $78.30.

Shopify Stock Up 1.1 %

SHOP traded up $0.78 during trading on Friday, hitting $71.33. The company had a trading volume of 953,801 shares, compared to its average volume of 9,290,948. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The company has a market cap of $91.77 billion, a PE ratio of 788.98 and a beta of 2.22. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The business has a 50-day moving average of $75.48 and a 200-day moving average of $72.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. As a group, analysts forecast that Shopify Inc. will post 0.58 earnings per share for the current 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.