Central Asset Investments & Management Holdings HK Ltd Purchases Shares of 2,624 Shopify Inc. (NYSE:SHOP)

Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, Holdings Channel reports. The fund acquired 2,624 shares of the software maker’s stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOP. K.J. Harrison & Partners Inc lifted its position in Shopify by 163.4% during the fourth quarter. K.J. Harrison & Partners Inc now owns 30,630 shares of the software maker’s stock worth $3,291,000 after buying an additional 19,000 shares during the period. NewEdge Wealth LLC increased its stake in shares of Shopify by 80.2% during the 4th quarter. NewEdge Wealth LLC now owns 51,933 shares of the software maker’s stock valued at $5,522,000 after acquiring an additional 23,108 shares during the last quarter. Simmons Bank purchased a new position in shares of Shopify during the 4th quarter worth about $295,000. Checchi Capital Advisers LLC boosted its position in shares of Shopify by 4.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 4,983 shares of the software maker’s stock worth $530,000 after acquiring an additional 208 shares during the last quarter. Finally, LifeGoal Wealth Advisors acquired a new stake in shares of Shopify in the fourth quarter worth approximately $249,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SHOP shares. Oppenheimer increased their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Evercore ISI increased their target price on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price target on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. DA Davidson increased their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 2.3 %

SHOP opened at $113.46 on Thursday. The firm has a market cap of $146.91 billion, a price-to-earnings ratio of 73.20, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The company’s 50-day moving average price is $112.74 and its 200 day moving average price is $96.35. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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%. Research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

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.