Bank Julius Baer & Co. Ltd Zurich Acquires 3,000 Shares of Shopify Inc. (NYSE:SHOP)

Bank Julius Baer & Co. Ltd Zurich raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 187.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,599 shares of the software maker’s stock after buying an additional 3,000 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Shopify were worth $358,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Syon Capital LLC grew its position in Shopify by 366.9% in the 4th quarter. Syon Capital LLC now owns 27,119 shares of the software maker’s stock valued at $2,113,000 after acquiring an additional 21,311 shares during the last quarter. Lyell Wealth Management LP grew its position in Shopify by 1.6% in the 4th quarter. Lyell Wealth Management LP now owns 126,955 shares of the software maker’s stock valued at $9,890,000 after acquiring an additional 1,950 shares during the last quarter. Bailard Inc. bought a new position in Shopify in the 4th quarter valued at $2,642,000. Hartline Investment Corp bought a new position in Shopify in the 4th quarter valued at $434,000. Finally, Fountainhead AM LLC purchased a new stake in shares of Shopify in the 4th quarter worth $290,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 1.1 %

Shares of SHOP stock opened at $71.33 on Friday. The stock’s 50-day simple moving average is $75.28 and its 200-day simple moving average is $72.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The firm has a market capitalization of $91.77 billion, a PE ratio of 792.64 and a beta of 2.22. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SHOP shares. Morgan Stanley upgraded Shopify from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $74.00 to $85.00 in a report on Friday, April 19th. BNP Paribas cut Shopify from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 18th. Roth Capital upped their price objective on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Piper Sandler restated an “underweight” rating and set a $63.00 price objective on shares of Shopify in a research note on Thursday, April 11th. Finally, UBS Group upped their price objective on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of “Hold” and a consensus price target of $78.30.

Shopify 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.