Counterpoint Mutual Funds LLC Has $1.37 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Counterpoint Mutual Funds LLC grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 380.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,867 shares of the software maker’s stock after acquiring an additional 10,190 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Shopify were worth $1,368,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. PFG Private Wealth Management LLC increased its position in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the last quarter. Brooklyn Investment Group acquired a new position in Shopify in the 3rd quarter valued at $33,000. New Wave Wealth Advisors LLC acquired a new position in Shopify in the fourth quarter valued at about $39,000. Mather Group LLC. lifted its holdings 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 during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 4.7 %

SHOP opened at $94.88 on Monday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The business’s fifty day simple moving average is $110.88 and its 200-day simple moving average is $98.78. The company has a market capitalization of $122.86 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. On average, equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SHOP shares. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research report on Wednesday, February 12th. Oppenheimer lifted their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Barclays increased their price target on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their target price on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

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.