Metis Global Partners LLC Has $4.29 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Metis Global Partners LLC grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,083 shares of the software maker’s stock after buying an additional 3,260 shares during the quarter. Metis Global Partners LLC’s holdings in Shopify were worth $4,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SJS Investment Consulting Inc. increased its position in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the period. Baldwin Brothers LLC MA increased its position in Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after purchasing an additional 147 shares during the period. Global Trust Asset Management LLC increased its position in Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after purchasing an additional 350 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Shopify in the third quarter worth about $47,000. Finally, Salem Investment Counselors Inc. increased its position in Shopify by 1,112.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock worth $47,000 after purchasing an additional 556 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of Shopify in a report on Wednesday, February 14th. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday. CIBC raised their target price on Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Barclays reduced their target price on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. Finally, Citigroup upgraded Shopify from a “neutral” rating to a “buy” rating and raised their target price for the stock from $93.00 to $105.00 in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Shopify has a consensus rating of “Hold” and an average price target of $79.00.

Shopify Stock Performance

Shares of SHOP stock traded up $2.91 during trading on Monday, reaching $77.37. 10,938,979 shares of the company’s stock were exchanged, compared to its average volume of 9,262,604. 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 capitalization of $99.54 billion, a PE ratio of 827.43 and a beta of 2.20. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The firm’s fifty day moving average price is $74.73 and its 200-day moving average price is $73.42.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, sell-side analysts anticipate that Shopify Inc. will post 0.59 EPS 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.