Kessler Investment Group LLC Takes $6.11 Million Position in Shopify Inc. (NYSE:SHOP)

Kessler Investment Group LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,417 shares of the software maker’s stock, valued at approximately $6,105,000. Shopify accounts for approximately 2.9% of Kessler Investment Group LLC’s investment portfolio, making the stock its 18th largest holding.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Shopify during the third quarter valued at $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. New Wave Wealth Advisors LLC acquired a new position in Shopify during the fourth quarter worth about $39,000. Mather Group LLC. grew its holdings in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC acquired a new position in Shopify during the third quarter worth about $45,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on SHOP. Oppenheimer lifted their target price on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Moffett Nathanson lifted their target price on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, New Street Research initiated coverage on Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.21.

Shopify Stock Up 0.6 %

Shares of Shopify stock opened at $128.36 on Friday. The stock has a market capitalization of $165.85 billion, a P/E ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average price of $111.70 and a two-hundred day moving average price of $92.27. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $128.57.

Shopify (NYSE:SHOP) (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 analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities analysts expect that Shopify Inc. will post 0.91 earnings per share for the current 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.