Shopify Inc. (NYSE:SHOP) Stock Position Raised by Syon Capital LLC

Syon Capital LLC raised its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 366.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,119 shares of the software maker's stock after purchasing an additional 21,311 shares during the quarter. Syon Capital LLC's holdings in Shopify were worth $2,113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lyell Wealth Management LP lifted its holdings in shares of 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 buying an additional 1,950 shares during the period. Bailard Inc. acquired a new stake in shares of Shopify in the 4th quarter valued at approximately $2,642,000. Hartline Investment Corp acquired a new stake in shares of Shopify in the 4th quarter valued at approximately $434,000. Fountainhead AM LLC acquired a new stake in shares of Shopify in the 4th quarter valued at approximately $290,000. Finally, Yousif Capital Management LLC lifted its holdings in shares of Shopify by 21.3% in the 4th quarter. Yousif Capital Management LLC now owns 21,095 shares of the software maker's stock valued at $1,643,000 after buying an additional 3,700 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Up 1.1 %

Shares of NYSE:SHOP traded up $0.75 during midday trading on Friday, reaching $71.30. The company's stock had a trading volume of 4,608,453 shares, compared to its average volume of 9,337,968. The firm has a market cap of $91.73 billion, a price-to-earnings ratio of 792.31 and a beta of 2.22. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $75.28 and a 200 day moving average price of $72.50. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly 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. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Research analysts forecast that Shopify Inc. will post 0.58 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on SHOP. Wells Fargo & Company reduced their price target on Shopify from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, February 14th. UBS Group raised their price target on Shopify from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 14th. ATB Capital lifted their price objective on Shopify from $105.00 to $110.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 14th. Robert W. Baird lifted their price objective on Shopify from $85.00 to $87.00 and gave the stock an "outperform" rating in a report on Wednesday, April 3rd. Finally, Morgan Stanley raised Shopify from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $74.00 to $85.00 in a report on Friday, April 19th. 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $78.30.

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.