Simplicity Solutions LLC Increases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Simplicity Solutions LLC grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,705 shares of the software maker’s stock after buying an additional 1,608 shares during the quarter. Simplicity Solutions LLC’s holdings in Shopify were worth $834,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vident Investment Advisory LLC increased its position in shares of Shopify by 5.3% in the first quarter. Vident Investment Advisory LLC now owns 661 shares of the software maker’s stock valued at $447,000 after buying an additional 33 shares in the last quarter. Interchange Capital Partners LLC increased its position in shares of Shopify by 7.1% in the first quarter. Interchange Capital Partners LLC now owns 511 shares of the software maker’s stock valued at $345,000 after buying an additional 34 shares in the last quarter. Ancora Advisors LLC increased its position in shares of Shopify by 6.2% in the first quarter. Ancora Advisors LLC now owns 1,177 shares of the software maker’s stock valued at $1,302,000 after buying an additional 69 shares in the last quarter. SVB Wealth LLC increased its position in shares of Shopify by 14.0% in the first quarter. SVB Wealth LLC now owns 659 shares of the software maker’s stock valued at $445,000 after buying an additional 81 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its position in shares of Shopify by 292.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock valued at $74,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $68.69 on Wednesday. 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 Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The stock’s 50 day moving average is $77.45 and its two-hundred day moving average is $71.76. The company has a market capitalization of $88.37 billion, a PE ratio of 763.31 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Analysts predict that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on SHOP. Roth Capital increased their price objective on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. StockNews.com lowered Shopify from a “hold” rating to a “sell” rating in a research note on Tuesday. Mizuho increased their price objective on Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Jefferies Financial Group increased their price objective on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, January 5th. Finally, Wells Fargo & Company decreased their price objective on Shopify from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Shopify has an average rating of “Hold” and an average target price of $78.00.

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.