MGO One Seven LLC Buys 1,525 Shares of Shopify Inc. (NYSE:SHOP)

MGO One Seven LLC raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,008 shares of the software maker’s stock after purchasing an additional 1,525 shares during the period. MGO One Seven LLC’s holdings in Shopify were worth $1,915,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in shares of Shopify during the 4th quarter valued at about $132,323,000. Watts Gwilliam & Co. LLC raised its stake in shares of Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after acquiring an additional 4,641 shares in the last quarter. Synovus Financial Corp bought a new stake in shares of Shopify in the 3rd quarter worth approximately $481,000. Western Financial Corp CA purchased a new stake in shares of Shopify in the 4th quarter valued at $239,000. Finally, Kessler Investment Group LLC bought a new position in shares of Shopify during the 4th quarter valued at $6,105,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 4.6 %

NYSE:SHOP opened at $95.12 on Friday. The stock has a market cap of $123.16 billion, a price-to-earnings ratio of 61.37, a PEG ratio of 4.82 and a beta of 2.82. The company’s 50 day moving average price is $97.43 and its 200-day moving average price is $101.69. Shopify Inc. has a 52 week low of $48.56 and a 52 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 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald decreased their target price on shares of Shopify from $120.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Oppenheimer increased their price target on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, UBS Group boosted their price objective on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $119.66.

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.