Sava Infond d.o.o. Makes New Investment in Shopify Inc. (NYSE:SHOP)

Sava Infond d.o.o. acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,100 shares of the software maker’s stock, valued at approximately $117,000.

Other large investors have also modified their holdings of the company. Cerity Partners LLC boosted its holdings in Shopify by 35.8% in the third quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock valued at $6,891,000 after acquiring an additional 22,667 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of Shopify in the 3rd quarter worth about $104,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Shopify in the 3rd quarter valued at about $660,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Shopify during the 3rd quarter worth about $274,000. Finally, Truvestments Capital LLC acquired a new stake in Shopify during the 3rd quarter worth approximately $45,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHOP has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Monday, February 10th. Scotiabank raised their price objective on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Robert W. Baird upped their target price on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, New Street Research began coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Down 1.6 %

SHOP opened at $102.64 on Friday. The company’s 50-day moving average price is $110.35 and its 200 day moving average price is $100.35. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market cap of $132.90 billion, a price-to-earnings ratio of 66.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

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