Orion Investment Co Acquires 7,310 Shares of Shopify Inc. $SHOP

Key Points

• Orion Investment Co increased its shares in Shopify Inc. by 19.3% during the first quarter, acquiring an additional 7,310 shares for a total of 45,224 shares valued at approximately $4.3 million.
• Shopify's stock received a variety of ratings from analysts, including a downgrade from Loop Capital and new price targets from Barclays and UBS Group, with a consensus price target of $150.27.
• The company recently reported an earnings per share (EPS) of $0.35, surpassing expectations, and a revenue of $2.68 billion, indicating a substantial year-over-year revenue increase of 31.1%.

Orion Investment Co grew its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 19.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,224 shares of the software maker's stock after acquiring an additional 7,310 shares during the period. Shopify accounts for approximately 1.8% of Orion Investment Co's holdings, making the stock its 18th largest position. Orion Investment Co's holdings in Shopify were worth $4,318,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SHOP. Brighton Jones LLC grew its position in Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after acquiring an additional 584 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Shopify by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 496,188 shares of the software maker's stock worth $52,761,000 after acquiring an additional 26,416 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Shopify in the fourth quarter worth approximately $371,000. Coldstream Capital Management Inc. grew its position in Shopify by 19.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,927 shares of the software maker's stock worth $524,000 after acquiring an additional 787 shares in the last quarter. Finally, Northern Trust Corp grew its position in Shopify by 18.5% in the fourth quarter. Northern Trust Corp now owns 1,673,035 shares of the software maker's stock worth $177,894,000 after acquiring an additional 261,256 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Loop Capital downgraded shares of Shopify from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Tuesday, July 22nd. Barclays boosted their price objective on shares of Shopify from $94.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Zacks Research upgraded shares of Shopify to a "hold" rating in a research note on Tuesday, August 12th. UBS Group boosted their price objective on shares of Shopify from $110.00 to $145.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, Jefferies Financial Group reduced their price objective on shares of Shopify from $130.00 to $110.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Twenty-four analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Shopify currently has an average rating of "Moderate Buy" and a consensus price target of $150.27.

Shopify Price Performance

NYSE:SHOP opened at $139.89 on Thursday. The stock has a market cap of $181.81 billion, a P/E ratio of 90.25, a PEG ratio of 4.82 and a beta of 2.63. Shopify Inc. has a one year low of $65.86 and a one year high of $156.85. The company has a fifty day moving average price of $126.56 and a 200 day moving average price of $110.35.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.55 billion. Shopify had a net margin of 22.74% and a return on equity of 12.00%. The business's quarterly revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. As a group, equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Shopify Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.