Shopify Inc (SHOP) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC grew its stake in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,870 shares of the software maker’s stock after acquiring an additional 181 shares during the quarter. Park Avenue Securities LLC’s holdings in Shopify were worth $279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackey Komara & Dankovich LLC purchased a new stake in shares of Shopify during the fourth quarter valued at $28,000. We Are One Seven LLC purchased a new stake in shares of Shopify during the fourth quarter valued at $27,000. North Star Investment Management Corp. boosted its stake in shares of Shopify by 90.9% during the fourth quarter. North Star Investment Management Corp. now owns 210 shares of the software maker’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Reilly Financial Advisors LLC boosted its stake in shares of Shopify by 63.7% during the fourth quarter. Reilly Financial Advisors LLC now owns 257 shares of the software maker’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Finally, Strategic Wealth Partners Ltd. boosted its stake in shares of Shopify by 306.7% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 305 shares of the software maker’s stock valued at $47,000 after purchasing an additional 230 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

NYSE SHOP opened at $172.02 on Thursday. Shopify Inc has a one year low of $112.50 and a one year high of $180.00. The firm has a market capitalization of $18.66 billion, a P/E ratio of -409.57 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.82 and a quick ratio of 11.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 12th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. Shopify had a negative return on equity of 4.26% and a negative net margin of 6.93%. The business had revenue of $344.00 million during the quarter, compared to the consensus estimate of $327.45 million. During the same period last year, the company earned $0.15 EPS. The company’s revenue for the quarter was up 54.3% on a year-over-year basis. On average, sell-side analysts forecast that Shopify Inc will post -0.63 earnings per share for the current year.

SHOP has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on shares of Shopify from $159.00 to $180.00 and gave the stock a “sector perform” rating in a research note on Monday. Wells Fargo & Co upped their price objective on shares of Shopify from $175.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday. National Bank Financial boosted their target price on shares of Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Shopify from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. Finally, Raymond James reiterated an “outperform” rating and issued a $180.00 price target (up previously from $155.00) on shares of Shopify in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $184.15.

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About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

Further Reading: Catch-Up Contributions

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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