Kessler Investment Group LLC Invests $6.11 Million in Shopify Inc. (NYSE:SHOP)

Kessler Investment Group LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 57,417 shares of the software maker’s stock, valued at approximately $6,105,000. Shopify comprises approximately 2.9% of Kessler Investment Group LLC’s holdings, making the stock its 18th biggest holding.

A number of other large investors also recently modified their holdings of SHOP. GAMMA Investing LLC lifted its holdings in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after buying an additional 253 shares during the last quarter. Creative Planning raised its stake in shares of Shopify by 4.4% in the third quarter. Creative Planning now owns 392,415 shares of the software maker’s stock valued at $31,448,000 after purchasing an additional 16,375 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Shopify by 58.0% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 10,178 shares of the software maker’s stock valued at $816,000 after purchasing an additional 3,737 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Shopify by 4.4% in the third quarter. Global Retirement Partners LLC now owns 10,651 shares of the software maker’s stock valued at $854,000 after purchasing an additional 449 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of Shopify by 26.7% in the third quarter. Bleakley Financial Group LLC now owns 17,113 shares of the software maker’s stock valued at $1,371,000 after purchasing an additional 3,610 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Up 0.6 %

NYSE:SHOP opened at $128.36 on Friday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $128.57. The business’s 50-day moving average price is $111.70 and its two-hundred day moving average price is $92.27. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $165.85 billion, a price-to-earnings ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results 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 net margin of 16.84% and a return on equity of 11.60%. On average, equities analysts expect that Shopify Inc. will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SHOP. JMP Securities restated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. Citigroup upped their target price on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. Moffett Nathanson increased their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Oppenheimer increased their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, DA Davidson increased their price objective on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.21.

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.