Dash Acquisitions Inc. Increases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Dash Acquisitions Inc. boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 206.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,705 shares of the software maker’s stock after purchasing an additional 76,602 shares during the period. Shopify makes up 3.0% of Dash Acquisitions Inc.’s holdings, making the stock its 13th biggest holding. Dash Acquisitions Inc.’s holdings in Shopify were worth $13,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SHOP. Brooklyn Investment Group acquired a new stake in shares of Shopify during the 3rd quarter worth about $33,000. Rosenberg Matthew Hamilton increased its position in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $39,000. Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify during the 3rd quarter worth approximately $45,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of Shopify stock opened at $127.60 on Thursday. The firm’s fifty day simple moving average is $112.68 and its 200-day simple moving average is $94.46. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a market capitalization of $164.87 billion, a price-to-earnings ratio of 82.32, a PEG ratio of 5.12 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 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%. Analysts anticipate that Shopify Inc. will post 1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SHOP shares. Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their target price on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. CIBC lifted their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI upped their target price on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

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.