OMERS ADMINISTRATION Corp Purchases New Position in Shopify Inc. (NYSE:SHOP)

OMERS ADMINISTRATION Corp acquired a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 65,714 shares of the software maker's stock, valued at approximately $6,988,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allianz SE acquired a new stake in Shopify during the 4th quarter worth about $27,000. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC grew its position in Shopify by 50.0% during 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 purchased a new position in shares of Shopify during the 4th quarter valued at $39,000. Finally, Mather Group LLC. increased its position 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 last quarter. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SHOP shares. Canaccord Genuity Group raised their target price on shares of Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price target on Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. BNP Paribas Exane downgraded shares of Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price objective on the stock. in a research note on Monday, May 5th. DA Davidson reduced their price target on shares of Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, TD Securities raised their price objective on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and an average price target of $115.37.

Shopify Stock Up 0.5%

NYSE SHOP traded up $0.54 during trading hours on Friday, hitting $110.75. The company's stock had a trading volume of 96,037,521 shares, compared to its average volume of 9,569,946. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market capitalization of $143.40 billion, a P/E ratio of 71.45, a PEG ratio of 4.82 and a beta of 2.66. The stock has a fifty day moving average of $94.30 and a 200 day moving average of $103.73.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 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, analysts predict that Shopify Inc. will post 1.12 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.