Boyd Watterson Asset Management LLC OH Buys 1,243 Shares of Shopify Inc. (NYSE:SHOP)

Boyd Watterson Asset Management LLC OH boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,652 shares of the software maker’s stock after acquiring an additional 1,243 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Shopify were worth $2,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its holdings in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares in the last quarter. Baldwin Brothers LLC MA lifted its position in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after buying an additional 147 shares during the last quarter. Global Trust Asset Management LLC lifted its position in shares of Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after buying an additional 350 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Shopify during the third quarter valued at about $47,000. Finally, Salem Investment Counselors Inc. lifted its position in shares of Shopify by 1,112.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after buying an additional 556 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of SHOP stock traded up $0.78 during trading hours on Friday, reaching $71.33. The stock had a trading volume of 4,611,766 shares, compared to its average volume of 7,677,671. The firm has a 50-day simple moving average of $75.28 and a 200-day simple moving average of $72.50. The firm has a market capitalization of $91.77 billion, a PE ratio of 792.64 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating 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, equities analysts forecast that Shopify Inc. will post 0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

SHOP has been the subject of several research analyst reports. CIBC increased their price objective on shares of Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Wedbush restated a “neutral” rating and set a $68.00 price objective on shares of Shopify in a research report on Tuesday, February 13th. Loop Capital dropped their price target 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. The Goldman Sachs Group increased their target price on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, UBS Group lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of “Hold” and an average price target of $78.30.

Shopify Company 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.