Strs Ohio Increases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Strs Ohio lifted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 52.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,849 shares of the software maker’s stock after purchasing an additional 5,118 shares during the quarter. Strs Ohio’s holdings in Shopify were worth $1,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Granite Bay Wealth Management LLC boosted its holdings in Shopify by 1.2% during the 4th quarter. Granite Bay Wealth Management LLC now owns 1,108,196 shares of the software maker’s stock valued at $86,328,000 after acquiring an additional 12,835 shares during the period. Capital Advisors Inc. OK boosted its holdings in Shopify by 1.7% during the 4th quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock valued at $723,000 after acquiring an additional 153 shares during the period. Consolidated Portfolio Review Corp purchased a new position in Shopify during the 4th quarter valued at $245,000. Crestwood Advisors Group LLC boosted its holdings in Shopify by 0.7% during the 4th quarter. Crestwood Advisors Group LLC now owns 54,948 shares of the software maker’s stock valued at $4,280,000 after acquiring an additional 408 shares during the period. Finally, Horst & Graben Wealth Management LLC purchased a new position in Shopify during the 4th quarter valued at $222,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 1.3 %

Shopify stock opened at $70.57 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The business’s 50-day simple moving average is $75.98 and its two-hundred day simple moving average is $72.25. The company has a market cap of $90.79 billion, a PE ratio of 784.20 and a beta of 2.22. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Equities analysts anticipate that Shopify Inc. will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Loop Capital dropped their price objective on Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 15th. National Bankshares lifted their target price on Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th. Wells Fargo & Company decreased their target price on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Finally, Robert W. Baird lifted their target price on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $78.30.

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.