Diker Management LLC Has $2.13 Million Holdings in Shopify Inc. (NYSE:SHOP)

Diker Management LLC grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 25.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,000 shares of the software maker’s stock after purchasing an additional 4,000 shares during the period. Shopify comprises approximately 1.8% of Diker Management LLC’s investment portfolio, making the stock its 13th largest position. Diker Management LLC’s holdings in Shopify were worth $2,127,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tidemark LLC grew its stake in Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after purchasing an additional 90 shares in the last quarter. Howland Capital Management LLC raised its position in Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after acquiring an additional 99 shares in the last quarter. Trust Co. of Vermont lifted its stake in Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares during the last quarter. First United Bank & Trust grew its position in Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after acquiring an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its stake in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on SHOP. Scotiabank lowered their price target on Shopify from $120.00 to $90.00 and set a “sector perform” rating on the stock in a report on Monday, April 28th. National Bankshares cut their price objective on Shopify from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. DA Davidson lowered their price objective on shares of Shopify from $150.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Truist Financial decreased their target price on Shopify from $120.00 to $100.00 and set a “hold” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $116.00.

Shopify Trading Up 0.7 %

Shopify stock opened at $94.50 on Thursday. The company has a market capitalization of $122.36 billion, a price-to-earnings ratio of 60.97, a PEG ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock’s 50 day moving average is $93.73 and its 200-day moving average is $102.58.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.