Shopify Inc. (NYSE:SHOP) Shares Purchased by Syon Capital LLC

Syon Capital LLC increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 366.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,119 shares of the software maker’s stock after acquiring an additional 21,311 shares during the quarter. Syon Capital LLC’s holdings in Shopify were worth $2,113,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lyell Wealth Management LP lifted its position in Shopify by 1.6% in the fourth quarter. Lyell Wealth Management LP now owns 126,955 shares of the software maker’s stock valued at $9,890,000 after buying an additional 1,950 shares during the last quarter. Bailard Inc. acquired a new position in Shopify in the fourth quarter valued at about $2,642,000. Hartline Investment Corp acquired a new position in Shopify in the fourth quarter valued at about $434,000. Fountainhead AM LLC acquired a new position in Shopify in the fourth quarter valued at about $290,000. Finally, Yousif Capital Management LLC lifted its position in Shopify by 21.3% in the fourth quarter. Yousif Capital Management LLC now owns 21,095 shares of the software maker’s stock valued at $1,643,000 after buying an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP traded up $0.78 during mid-day trading on Friday, reaching $71.33. 4,438,839 shares of the company’s stock were exchanged, compared to its average volume of 9,335,915. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The stock has a market capitalization of $91.77 billion, a PE ratio of 788.98 and a beta of 2.22. The business’s fifty day simple moving average is $75.48 and its 200-day simple moving average is $72.38. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, equities research analysts expect that Shopify Inc. will post 0.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. UBS Group upped their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Truist Financial boosted their price target on shares of Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Roth Capital boosted their price target on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. DA Davidson boosted their price target on shares of Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, Barclays cut their price target on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Shopify presently has an average rating of “Hold” and an average price target of $78.30.

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.