Sienna Gestion Makes New $5.87 Million Investment in Shopify Inc. (NYSE:SHOP)

Sienna Gestion purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 55,200 shares of the software maker’s stock, valued at approximately $5,872,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHOP. Nations Financial Group Inc. IA ADV grew its holdings in Shopify by 4.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after purchasing an additional 209 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Shopify during the 3rd quarter worth $1,011,000. Verus Capital Partners LLC acquired a new position in Shopify during the 3rd quarter valued at about $219,000. Prime Capital Investment Advisors LLC raised its stake in Shopify by 1.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 13,801 shares of the software maker’s stock valued at $1,106,000 after buying an additional 195 shares during the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in Shopify by 5.5% in the third quarter. Aptus Capital Advisors LLC now owns 6,059 shares of the software maker’s stock valued at $486,000 after buying an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SHOP. JMP Securities restated a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. Royal Bank of Canada upped their price target on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. UBS Group lifted their price objective on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 target price on shares of Shopify in a research report on Wednesday, February 12th. Finally, Moffett Nathanson lifted their price target on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

Shares of Shopify stock opened at $90.51 on Friday. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company has a market cap of $117.19 billion, a price-to-earnings ratio of 58.39, a PEG ratio of 4.82 and a beta of 2.60. The business’s 50 day moving average price is $111.17 and its 200 day moving average price is $98.29.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. On average, analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal 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.