Cromwell Holdings LLC Has $260,000 Holdings in Shopify Inc. (NYSE:SHOP)

Cromwell Holdings LLC grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,442 shares of the software maker’s stock after purchasing an additional 388 shares during the period. Cromwell Holdings LLC’s holdings in Shopify were worth $260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Shopify during the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton boosted its position in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. boosted its position in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Shopify during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 3.5 %

NYSE:SHOP opened at $123.19 on Friday. The stock has a market capitalization of $159.18 billion, a price-to-earnings ratio of 79.48, a PEG ratio of 4.98 and a beta of 2.47. The firm has a fifty day simple moving average of $112.84 and a two-hundred day simple moving average of $94.66. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Canaccord Genuity Group increased their price objective on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their price objective on shares of Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird increased their price objective on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

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.