Cromwell Holdings LLC Has $260,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Cromwell Holdings LLC grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,442 shares of the software maker’s stock after buying an additional 388 shares during the quarter. Cromwell Holdings LLC’s holdings in Shopify were worth $260,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC acquired a new position in shares of Shopify during the fourth quarter valued at about $132,323,000. Swiss National Bank boosted its holdings in Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC boosted its holdings in 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 purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SHOP shares. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Evercore ISI boosted their price target on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. TD Securities boosted their price target on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price objective on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group lifted their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Down 3.5 %

Shares of NYSE:SHOP opened at $123.19 on Friday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a market cap of $159.18 billion, a P/E ratio of 79.48, a P/E/G ratio of 4.98 and a beta of 2.47. The company has a 50 day moving average of $112.84 and a 200 day moving average of $94.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities analysts forecast 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.