Shopify Inc. (NYSE:SHOP) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 82.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,368 shares of the software maker's stock after buying an additional 16,014 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Shopify were worth $2,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Elite Wealth Management Inc. bought a new position in shares of Shopify during the 4th quarter worth approximately $239,000. Tyche Wealth Partners LLC purchased a new stake in shares of Shopify during the 4th quarter worth approximately $293,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Shopify by 6.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 412,878 shares of the software maker's stock worth $32,163,000 after purchasing an additional 23,341 shares during the last quarter. Wealth Alliance increased its stake in shares of Shopify by 26.7% during the 4th quarter. Wealth Alliance now owns 6,832 shares of the software maker's stock worth $532,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Octavia Wealth Advisors LLC increased its stake in shares of Shopify by 22.4% during the 4th quarter. Octavia Wealth Advisors LLC now owns 7,916 shares of the software maker's stock worth $617,000 after purchasing an additional 1,451 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BNP Paribas lowered shares of Shopify from a "neutral" rating to an "underperform" rating in a research note on Thursday, January 18th. Morgan Stanley upgraded shares of Shopify from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $74.00 to $85.00 in a research note on Friday. Royal Bank of Canada reiterated an "outperform" rating and issued a $100.00 price objective on shares of Shopify in a research note on Wednesday, February 14th. CIBC lifted their price objective on shares of Shopify from $82.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. Finally, Robert W. Baird lifted their price objective on shares of Shopify from $85.00 to $87.00 and gave the company an "outperform" rating in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $78.30.

Shopify Trading Up 1.3 %

Shopify stock traded up $0.90 during mid-day trading on Monday, hitting $70.57. The company's stock had a trading volume of 5,904,957 shares, compared to its average volume of 9,472,624. 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 stock has a market cap of $90.79 billion, a price-to-earnings ratio of 774.20 and a beta of 2.22. The business has a 50 day moving average price of $76.35 and a 200-day moving average price of $72.12. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $2.07 billion. As a group, analysts forecast that Shopify Inc. will post 0.58 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.