Ogborne Capital Management LLC acquired a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 255,000 shares of the software maker's stock, valued at approximately $27,114,000. Shopify makes up 4.3% of Ogborne Capital Management LLC's portfolio, making the stock its 7th largest position.
A number of other hedge funds have also recently made changes to their positions in SHOP. Aprio Wealth Management LLC increased its stake in Shopify by 18.8% in the 4th quarter. Aprio Wealth Management LLC now owns 3,502 shares of the software maker's stock worth $372,000 after acquiring an additional 555 shares during the last quarter. Fiduciary Alliance LLC grew its holdings in shares of Shopify by 13.2% in the fourth quarter. Fiduciary Alliance LLC now owns 13,865 shares of the software maker's stock valued at $1,474,000 after purchasing an additional 1,615 shares in the last quarter. Kieckhefer Group LLC bought a new stake in Shopify in the fourth quarter worth $175,000. Eastern Bank increased its position in Shopify by 18.4% in the fourth quarter. Eastern Bank now owns 2,120 shares of the software maker's stock worth $225,000 after purchasing an additional 330 shares during the last quarter. Finally, Gunderson Capital Management Inc. purchased a new stake in Shopify during the fourth quarter valued at $6,719,000. Institutional investors own 69.27% of the company's stock.
Shopify Stock Up 13.7%
SHOP opened at $104.34 on Tuesday. The company has a market cap of $135.10 billion, a P/E ratio of 67.32, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. The firm's 50-day moving average price is $93.25 and its 200-day moving average price is $103.23. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently weighed in on SHOP shares. Royal Bank of Canada decreased their price target on Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. KeyCorp lowered their target price on shares of Shopify from $140.00 to $105.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Piper Sandler upped their price target on shares of Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Canaccord Genuity Group increased their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Wedbush restated an "outperform" rating and set a $110.00 target price on shares of Shopify in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and an average target price of $115.37.
Check Out Our Latest Stock Analysis on SHOP
Shopify Profile
(
Free Report)
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.
See Also
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