Syon Capital LLC Grows Stock Holdings in Shopify Inc. (NYSE:SHOP)

Syon Capital LLC raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 366.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,119 shares of the software maker’s stock after acquiring an additional 21,311 shares during the quarter. Syon Capital LLC’s holdings in Shopify were worth $2,113,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. boosted its stake in shares of Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. Baldwin Brothers LLC MA boosted its stake in shares of Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. Global Trust Asset Management LLC boosted its stake in shares of Shopify by 350.0% during the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after purchasing an additional 350 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Shopify by 1,112.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after purchasing an additional 556 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new stake in Shopify during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP traded up $0.78 during midday trading on Friday, reaching $71.33. 4,438,839 shares of the company were exchanged, compared to its average volume of 9,335,915. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average is $75.48 and its two-hundred day moving average is $72.38. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The stock has a market cap of $91.77 billion, a PE ratio of 788.98 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued 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. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. As a group, analysts predict that Shopify Inc. will post 0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHOP. Needham & Company LLC reissued a “hold” rating on shares of Shopify in a research note on Tuesday, April 16th. Mizuho boosted their price objective on shares of Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Wedbush reissued a “neutral” rating and set a $68.00 price objective on shares of Shopify in a research note on Tuesday, February 13th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of Shopify in a research note on Wednesday, February 14th. Finally, Truist Financial upped their target price on shares of Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.30.

Shopify 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.