Congress Park Capital LLC Raises Stock Holdings in Shopify Inc. (NYSE:SHOP)

Congress Park Capital LLC boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,300 shares of the software maker’s stock after buying an additional 875 shares during the period. Congress Park Capital LLC’s holdings in Shopify were worth $505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Shopify by 118.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,382,000 shares of the software maker’s stock worth $263,452,000 after buying an additional 1,837,000 shares during the period. Greytown Advisors Inc. purchased a new stake in shares of Shopify during the fourth quarter worth approximately $269,000. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Shopify by 3.6% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,418,035 shares of the software maker’s stock worth $110,465,000 after buying an additional 49,361 shares during the period. Parkwood LLC increased its stake in shares of Shopify by 9.4% during the fourth quarter. Parkwood LLC now owns 48,262 shares of the software maker’s stock worth $3,760,000 after buying an additional 4,132 shares during the period. Finally, FIL Ltd increased its stake in shares of Shopify by 1.8% during the fourth quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock worth $1,035,688,000 after buying an additional 238,596 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price target on shares of Shopify in a research note on Thursday, August 8th. Morgan Stanley increased their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Wolfe Research initiated coverage on shares of Shopify in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, Wedbush reiterated a “neutral” rating and issued a $72.00 price target (up from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $78.97.

Shopify Trading Up 1.5 %

SHOP traded up $1.20 during midday trading on Friday, hitting $83.91. The company’s stock had a trading volume of 1,521,590 shares, compared to its average volume of 9,400,812. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market cap of $108.13 billion, a P/E ratio of 84.40, a PEG ratio of 2.79 and a beta of 2.36. The firm has a 50-day moving average price of $73.61 and a two-hundred day moving average price of $68.75. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) EPS. On average, research analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current year.

About Shopify

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.