Forte Capital LLC ADV Buys New Position in Shopify Inc. (NYSE:SHOP)

Forte Capital LLC ADV bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,162 shares of the software maker’s stock, valued at approximately $246,000.

Several other institutional investors have also added to or reduced their stakes in SHOP. Artisan Partners Limited Partnership increased its holdings in Shopify by 78.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after acquiring an additional 2,113,773 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after purchasing an additional 1,419,749 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Shopify during the 3rd quarter valued at $68,746,000. International Assets Investment Management LLC boosted its holdings in Shopify by 6,637.3% in the 4th 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 stake in Shopify in the 3rd quarter worth $49,113,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 3.4 %

Shares of SHOP traded up $2.46 during midday trading on Friday, hitting $74.46. 7,346,442 shares of the company’s stock traded hands, compared to its average volume of 7,882,916. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The firm’s fifty day moving average is $74.77 and its 200-day moving average is $73.00. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $95.80 billion, a price-to-earnings ratio of 827.54 and a beta of 2.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. As a group, sell-side analysts anticipate that Shopify Inc. will post 0.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

SHOP has been the topic of several research analyst reports. Barclays lowered their price objective on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 14th. Mizuho upped their price target on Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Roth Capital lifted their price objective on shares of Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Scotiabank upped their target price on shares of Shopify from $70.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, CIBC lifted their price target on shares of Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.03.

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.