12,500 Shares in Shopify Inc. (NYSE:SHOP) Bought by JAT Capital Mgmt LP

JAT Capital Mgmt LP acquired a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,500 shares of the software maker's stock, valued at approximately $1,329,000.

Other institutional investors have also added to or reduced their stakes in the company. Allianz SE purchased a new stake in shares of Shopify during the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after acquiring an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC grew its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify during the 4th quarter valued at $39,000. Finally, Mather Group LLC. boosted its stake 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 during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. TD Securities raised their target price on shares of Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. increased their price target on shares of Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Mizuho dropped their price objective on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Loop Capital lowered their price target on Shopify from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $118.14.

Shopify Trading Up 2.3 %

NYSE SHOP traded up $2.24 during trading hours on Friday, hitting $99.25. 11,137,325 shares of the company's stock traded hands, compared to its average volume of 9,305,678. The business's fifty day moving average price is $94.71 and its two-hundred day moving average price is $102.30. The firm has a market capitalization of $128.51 billion, a P/E ratio of 64.03, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.