Choreo LLC Has $786,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Choreo LLC increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,096 shares of the software maker’s stock after buying an additional 895 shares during the period. Choreo LLC’s holdings in Shopify were worth $786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. raised its holdings in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares during the last quarter. Baldwin Brothers LLC MA raised its holdings in shares of Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the last quarter. Global Trust Asset Management LLC lifted its position in Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after acquiring an additional 350 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in 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 during the last quarter. Finally, Anchor Investment Management LLC bought a new stake in Shopify during the 4th quarter worth approximately $51,000. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shopify stock opened at $70.38 on Thursday. The business has a 50-day simple moving average of $74.83 and a 200 day simple moving average of $73.00. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The stock has a market cap of $90.55 billion, a price-to-earnings ratio of 782.09 and a beta of 2.20. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during 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%. On average, research analysts forecast that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Piper Sandler reaffirmed an “underweight” rating and set a $63.00 price objective on shares of Shopify in a report on Thursday, April 11th. Loop Capital reduced their target price on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of Shopify in a report on Wednesday, February 14th. Finally, Barclays decreased their price objective on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $78.62.

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.