Oder Investment Management LLC Has $616,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Oder Investment Management LLC trimmed its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,906 shares of the software maker’s stock after selling 415 shares during the period. Oder Investment Management LLC’s holdings in Shopify were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. increased its position 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 acquiring an additional 130 shares during the period. Baldwin Brothers LLC MA increased its holdings in Shopify by 49.0% in the 4th 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 period. Global Trust Asset Management LLC increased its holdings 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 buying an additional 350 shares during the period. Asset Management One Co. Ltd. bought a new stake in Shopify in the 3rd quarter valued at $47,000. Finally, Salem Investment Counselors Inc. increased its holdings in Shopify by 1,112.0% in the 4th 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 period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on SHOP. CIBC boosted their price target on shares of Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Loop Capital lowered their target price on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. The Goldman Sachs Group upped 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. Mizuho upped their target price on shares of Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley raised shares of Shopify from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $74.00 to $85.00 in a report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Shopify currently has an average rating of “Hold” and an average price target of $78.62.

Shopify Stock Down 0.9 %

NYSE SHOP traded down $0.61 during trading hours on Wednesday, reaching $69.59. 3,283,166 shares of the company’s stock were exchanged, compared to its average volume of 9,257,608. The company’s 50-day moving average is $74.93 and its two-hundred day moving average is $73.02. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The company has a market capitalization of $89.53 billion, a price-to-earnings ratio of 770.97 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, analysts forecast that Shopify Inc. will post 0.58 EPS for the current fiscal year.

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.