OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in Shopify Inc. (NYSE:SHOP)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 40.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,000 shares of the software maker’s stock after purchasing an additional 20,000 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Shopify were worth $7,443,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Allianz SE purchased a new position in shares of Shopify during the 4th quarter worth about $27,000. PFG Private Wealth Management LLC lifted its holdings in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in Shopify during the 4th quarter valued at about $39,000. Finally, Mather Group LLC. lifted its holdings in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Up 13.7%

Shares of Shopify stock opened at $104.34 on Tuesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm has a market capitalization of $135.10 billion, a price-to-earnings ratio of 67.32, a PEG ratio of 4.82 and a beta of 2.66. The firm’s 50 day simple moving average is $93.25 and its two-hundred day simple moving average is $103.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. ATB Capital lifted their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. DA Davidson decreased their price objective on shares of Shopify from $150.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 14th. Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Finally, Mizuho lowered their price target on shares of Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.37.

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.