Once Capital Management LLC Buys Shares of 25,000 Shopify Inc. (NYSE:SHOP)

Once Capital Management LLC bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,000 shares of the software maker’s stock, valued at approximately $1,948,000. Shopify accounts for 1.4% of Once Capital Management LLC’s investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its stake in Shopify by 59.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 21,140 shares of the software maker’s stock valued at $1,154,000 after acquiring an additional 7,869 shares during the last quarter. Strategic Blueprint LLC raised its stake in Shopify by 5.8% during the 3rd quarter. Strategic Blueprint LLC now owns 6,129 shares of the software maker’s stock valued at $334,000 after acquiring an additional 337 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in Shopify during the 3rd quarter valued at approximately $47,000. Simplicity Solutions LLC raised its stake in Shopify by 13.9% during the 3rd quarter. Simplicity Solutions LLC now owns 9,097 shares of the software maker’s stock valued at $496,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Clarius Group LLC purchased a new stake in Shopify during the 3rd quarter valued at approximately $270,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on SHOP. BNP Paribas cut Shopify from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 18th. Wells Fargo & Company lowered their price target on Shopify from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. National Bankshares upped their price target on Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Robert W. Baird upped their price target on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Finally, Wedbush restated a “neutral” rating and issued a $68.00 price target on shares of Shopify in a report on Tuesday, February 13th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $78.30.

Shopify Stock Up 1.1 %

Shares of SHOP traded up $0.78 during midday trading on Friday, reaching $71.33. 4,611,766 shares of the company were exchanged, compared to its average volume of 7,677,671. The stock has a 50-day moving average price of $75.28 and a 200-day moving average price of $72.63. The company has a market cap of $91.77 billion, a price-to-earnings ratio of 792.64 and a beta of 2.22. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Research analysts expect that Shopify Inc. will post 0.58 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.