Daiwa Securities Group Inc. Buys 16,014 Shares of Shopify Inc. (NYSE:SHOP)

Daiwa Securities Group Inc. grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 82.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,368 shares of the software maker’s stock after purchasing an additional 16,014 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Shopify were worth $2,754,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. StoneCrest Wealth Management Inc. bought a new position in Shopify during the fourth quarter worth about $1,164,000. Asset Management One Co. Ltd. increased its position in Shopify by 4,007.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after acquiring an additional 34,624 shares during the period. SeaCrest Wealth Management LLC bought a new position in Shopify during the fourth quarter worth about $433,000. Bleakley Financial Group LLC increased its position in Shopify by 18.5% during the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after acquiring an additional 1,681 shares during the period. Finally, Advisor Resource Council bought a new position in Shopify during the fourth quarter worth about $1,488,000. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHOP. Loop Capital decreased their target price on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. BNP Paribas lowered shares of Shopify from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 18th. Morgan Stanley upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $74.00 to $85.00 in a research note on Friday. ATB Capital lifted their price objective on shares of Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $78.30.

Shopify Price Performance

NYSE SHOP opened at $69.67 on Monday. The firm’s 50-day simple moving average is $76.35 and its two-hundred day simple moving average is $72.12. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a market cap of $89.64 billion, a PE ratio of 774.20 and a beta of 2.22. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Research analysts predict that Shopify Inc. will post 0.58 earnings per share for the current year.

About Shopify

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.