Insight Holdings Group LLC Buys 12,800 Shares of Shopify Inc. (NYSE:SHOP)

Insight Holdings Group LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 23.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,900 shares of the software maker's stock after buying an additional 12,800 shares during the period. Shopify comprises about 0.5% of Insight Holdings Group LLC's investment portfolio, making the stock its 16th biggest holding. Insight Holdings Group LLC's holdings in Shopify were worth $7,220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Gerber Kawasaki Wealth & Investment Management raised its holdings in Shopify by 5.7% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 14,624 shares of the software maker's stock valued at $1,555,000 after buying an additional 786 shares in the last quarter. Prosperity Consulting Group LLC acquired a new stake in Shopify in the 4th quarter worth approximately $619,000. Coldstream Capital Management Inc. grew its holdings in Shopify by 19.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,927 shares of the software maker's stock valued at $524,000 after purchasing an additional 787 shares during the last quarter. Three Seasons Wealth LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $1,723,000. Finally, Nebula Research & Development LLC acquired a new stake in shares of Shopify in the fourth quarter worth $827,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Phillip Securities downgraded shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. UBS Group increased their target price on Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Wedbush reaffirmed an "outperform" rating and issued a $110.00 price target on shares of Shopify in a research report on Tuesday, April 15th. Robert W. Baird increased their price objective on Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, CIBC raised their price objective on shares of Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.14.

Shopify Trading Down 4.0 %

Shopify stock traded down $3.92 during trading hours on Wednesday, hitting $95.00. 13,222,962 shares of the stock traded hands, compared to its average volume of 9,279,253. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The firm's 50-day moving average price is $95.72 and its two-hundred day moving average price is $102.14. The company has a market cap of $123.01 billion, a PE ratio of 61.29, a PEG ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. On average, sell-side analysts expect 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.