Lyell Wealth Management LP Boosts Stock Position in Shopify Inc. (NYSE:SHOP)

Lyell Wealth Management LP lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 126,955 shares of the software maker’s stock after purchasing an additional 1,950 shares during the quarter. Lyell Wealth Management LP’s holdings in Shopify were worth $9,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHOP. Artisan Partners Limited Partnership boosted its stake in Shopify by 78.4% during the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after buying an additional 2,113,773 shares during the period. Baillie Gifford & Co. boosted its stake in Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after buying an additional 1,419,749 shares during the period. Quadrature Capital Ltd purchased a new position in Shopify during the third quarter worth $68,746,000. International Assets Investment Management LLC boosted its stake in Shopify by 6,637.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock worth $92,592,000 after buying an additional 1,170,956 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new position in Shopify during the third quarter worth $49,113,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of SHOP stock traded down $1.74 during trading hours on Wednesday, hitting $72.27. 6,081,355 shares of the company’s stock were exchanged, compared to its average volume of 9,430,177. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The firm has a market cap of $92.98 billion, a P/E ratio of 803.00 and a beta of 2.22. The firm has a 50 day moving average of $75.75 and a two-hundred day moving average of $72.39. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sell-side analysts forecast that Shopify Inc. will post 0.58 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. CIBC lifted their price objective on shares of Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th. Mizuho lifted their target price on Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Loop Capital decreased their target price on Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Finally, Barclays decreased their target price on Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $78.30.

Shopify Company 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.