25,000 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Once Capital Management LLC

Once Capital Management LLC purchased a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 25,000 shares of the software maker's stock, valued at approximately $1,948,000. Shopify comprises approximately 1.4% of Once Capital Management LLC's holdings, making the stock its 19th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in SHOP. Baillie Gifford & Co. lifted its holdings in Shopify by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker's stock valued at $4,998,476,000 after buying an additional 1,419,749 shares during the period. Vanguard Group Inc. lifted its stake in shares of Shopify by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker's stock valued at $2,233,344,000 after purchasing an additional 634,883 shares during the period. TD Asset Management Inc boosted its position in shares of Shopify by 4.4% during the 3rd quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker's stock valued at $389,052,000 after purchasing an additional 299,788 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Shopify by 6.5% during the 3rd quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker's stock valued at $339,750,000 after purchasing an additional 377,901 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in Shopify by 78.4% during the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker's stock worth $262,462,000 after purchasing an additional 2,113,773 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Performance

Shares of NYSE:SHOP traded up $0.78 during mid-day trading on Friday, reaching $71.33. The company had a trading volume of 4,611,766 shares, compared to its average volume of 7,677,671. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The company's 50-day moving average price is $75.28 and its 200-day moving average price is $72.75. The firm has a market cap of $91.77 billion, a price-to-earnings ratio of 792.64 and a beta of 2.22.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, equities research analysts anticipate that Shopify Inc. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com upgraded Shopify from a "sell" rating to a "hold" rating in a report on Wednesday. Barclays reduced their price target on shares of Shopify from $70.00 to $68.00 and set an "equal weight" rating for the company in a report on Wednesday, February 14th. The Goldman Sachs Group upped their price objective on shares of Shopify from $67.00 to $75.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. Truist Financial increased their price objective on shares of Shopify from $65.00 to $90.00 and gave the stock a "hold" rating in a research report on Monday, February 12th. Finally, Piper Sandler reaffirmed an "underweight" rating and issued a $63.00 target price on shares of Shopify in a research report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $78.30.

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.