Callan Capital LLC Takes Position in Shopify Inc. (NYSE:SHOP)

Callan Capital LLC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,884 shares of the software maker’s stock, valued at approximately $380,000.

Other hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its holdings in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares during the last quarter. Baldwin Brothers LLC MA grew its stake in Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares during the last quarter. Global Trust Asset Management LLC increased its holdings in shares of Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after purchasing an additional 350 shares during the period. Salem Investment Counselors Inc. raised its stake in shares of Shopify by 1,112.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock worth $47,000 after purchasing an additional 556 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $51,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Up 1.1 %

Shares of NYSE SHOP traded up $0.75 during midday trading on Friday, reaching $71.30. 4,608,453 shares of the stock were exchanged, compared to its average volume of 9,337,968. The stock has a market capitalization of $91.73 billion, a P/E ratio of 792.31 and a beta of 2.22. 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 50 day simple moving average of $75.28 and a 200 day simple moving average of $72.50. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.

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 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 during the quarter, compared to analysts’ expectations of $2.07 billion. As a group, equities analysts expect that Shopify Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

SHOP has been the subject of a number of recent research reports. Robert W. Baird raised their price target on shares of Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Truist Financial upped their price target on shares of Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a report on Monday, February 12th. Barclays decreased their price objective on Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, February 14th. BNP Paribas lowered Shopify from a “neutral” rating to an “underperform” rating in a report on Thursday, January 18th. Finally, Citigroup lowered their price objective on Shopify from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average 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.