Gratus Capital LLC Invests $5.96 Million in Shopify Inc. (NYSE:SHOP)

Gratus Capital LLC purchased a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 76,556 shares of the software maker's stock, valued at approximately $5,964,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Management Partners LLC raised its stake in shares of Shopify by 0.9% in the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker's stock valued at $1,085,000 after purchasing an additional 126 shares during the period. SJS Investment Consulting Inc. boosted its position in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker's stock worth $27,000 after acquiring an additional 130 shares during the last quarter. Pachira Investments Inc. boosted its holdings in Shopify by 2.1% during the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker's stock worth $552,000 after purchasing an additional 146 shares during the last quarter. Baldwin Brothers LLC MA grew its position in Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker's stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. Finally, Capital Advisors Inc. OK lifted its position in Shopify by 1.7% during the 4th quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker's stock worth $723,000 after buying an additional 153 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 0.3 %

SHOP stock traded down $0.18 on Monday, hitting $58.76. 12,813,938 shares of the company's stock were exchanged, compared to its average volume of 10,199,763. The firm has a 50 day moving average price of $73.85 and a two-hundred day moving average price of $74.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The stock has a market cap of $75.60 billion, a P/E ratio of -345.53, a price-to-earnings-growth ratio of 2.39 and a beta of 2.20.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, equities research analysts expect that Shopify Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SHOP. Robert W. Baird dropped their price target on shares of Shopify from $87.00 to $77.00 and set an "outperform" rating on the stock in a research report on Thursday. Loop Capital lowered their price target on Shopify from $90.00 to $80.00 and set a "hold" rating for the company in a report on Monday, April 15th. Barclays cut their target price on shares of Shopify from $68.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Thursday. Wedbush reiterated a "neutral" rating and set a $68.00 price target on shares of Shopify in a report on Tuesday, February 13th. Finally, CIBC dropped their price target on Shopify from $100.00 to $85.00 and set an "outperformer" rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $76.86.

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.

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP.

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.