International Assets Investment Management LLC Acquires 1,170,956 Shares of Shopify Inc. (NYSE:SHOP)
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International Assets Investment Management LLC increased its holdings in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 6,637.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,188,598 shares of the software maker’s stock after purchasing an additional 1,170,956 shares during the quarter. International Assets Investment Management LLC’s holdings in Shopify were worth $92,592,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Avitas Wealth Management LLC increased its holdings in Shopify by 1.3% in the fourth quarter. Avitas Wealth Management LLC now owns 22,104 shares of the software maker’s stock valued at $1,722,000 after purchasing an additional 284 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Shopify by 4,007.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock valued at $2,807,000 after acquiring an additional 34,624 shares during the last quarter. Private Trust Co. NA raised its position in shares of Shopify by 26.8% in the 4th quarter. Private Trust Co. NA now owns 9,483 shares of the software maker’s stock valued at $739,000 after acquiring an additional 2,007 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Shopify by 116.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,505 shares of the software maker’s stock worth $3,467,000 after acquiring an additional 23,900 shares during the last quarter. Finally, Breakwater Capital Group acquired a new position in Shopify during the fourth quarter valued at approximately $306,000. 69.27% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on SHOP. Citigroup cut their target price on shares of Shopify from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. DZ Bank reaffirmed a “sell” rating and set a $65.00 price objective on shares of Shopify in a research note on Tuesday, December 12th. BNP Paribas cut Shopify from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 18th. National Bankshares increased 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. Finally, Mizuho lifted their price objective on Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $77.38.
Read Our Latest Stock Analysis on SHOP
Shopify Stock Performance
SHOP opened at $75.28 on Friday. 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 stock has a market cap of $96.85 billion, a price-to-earnings ratio of 836.54 and a beta of 2.22. Shopify Inc. has a 12-month low of $43.50 and a 12-month high of $91.57. The business has a 50 day moving average of $78.82 and a 200-day moving average of $70.76.
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (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 business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. On average, equities research analysts expect that Shopify Inc. will post 0.57 earnings per share for the current year.
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.
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