Schonfeld Strategic Advisors LLC Grows Stock Holdings in Shopify Inc. (NYSE:SHOP)

Schonfeld Strategic Advisors LLC boosted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 963.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 35,100 shares of the software maker's stock after buying an additional 31,800 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Shopify were worth $3,732,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SHOP. Tidemark LLC increased its holdings in shares of Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock worth $276,000 after purchasing an additional 90 shares during the last quarter. Howland Capital Management LLC grew its holdings in Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after buying an additional 99 shares in the last quarter. Trust Co. of Vermont grew its holdings in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after buying an additional 100 shares in the last quarter. First United Bank & Trust raised its holdings in shares of Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock worth $488,000 after acquiring an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its position in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SHOP shares. The Goldman Sachs Group reduced their price target on shares of Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Scotiabank reduced their target price on shares of Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a report on Monday, April 28th. Phillip Securities downgraded shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. Mizuho reduced their price objective on Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Barclays upped their price objective on Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and an average target price of $118.14.

Shopify Trading Up 2.3 %

NYSE SHOP opened at $99.25 on Friday. The firm's fifty day simple moving average is $94.71 and its two-hundred day simple moving average is $102.44. The firm has a market capitalization of $128.51 billion, a P/E ratio of 64.03, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.

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