Napean Trading & Investment Co Singapore PTE Ltd Decreases Holdings in Shopify Inc. (NYSE:SHOP)

Napean Trading & Investment Co Singapore PTE Ltd lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 28.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 101,809 shares of the software maker’s stock after selling 40,496 shares during the quarter. Shopify makes up approximately 2.7% of Napean Trading & Investment Co Singapore PTE Ltd’s portfolio, making the stock its 15th biggest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Shopify were worth $10,825,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. PFG Private Wealth Management LLC grew its stake in Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the fourth quarter valued at $39,000. Mather Group LLC. raised its stake in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the period. Brooklyn Investment Group bought a new position in Shopify in the 3rd quarter worth about $33,000. Finally, Sierra Ocean LLC purchased a new position in Shopify during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 2.4 %

Shares of SHOP stock opened at $104.29 on Monday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock has a fifty day simple moving average of $110.04 and a two-hundred day simple moving average of $99.73. The stock has a market capitalization of $135.04 billion, a price-to-earnings ratio of 67.29, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. Research analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SHOP shares. Oppenheimer raised their target price on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Monday, February 10th. Canaccord Genuity Group boosted their target price on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $125.00 target price on shares of Shopify in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.