RWA Wealth Partners LLC Purchases New Stake in Shopify Inc. (NYSE:SHOP)

RWA Wealth Partners LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,348 shares of the software maker's stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SHOP. Allianz SE acquired a new position in shares of Shopify during the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC grew its stake in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after buying an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after buying an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify in the 4th quarter valued at approximately $39,000. Finally, Mather Group LLC. raised its stake in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after buying an additional 184 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of SHOP traded up $3.01 during mid-day trading on Wednesday, reaching $100.65. The company had a trading volume of 7,856,663 shares, compared to its average volume of 8,812,093. The company has a market capitalization of $130.32 billion, a P/E ratio of 64.94, a P/E/G ratio of 4.82 and a beta of 2.81. The company's 50-day moving average is $109.77 and its 200-day moving average is $101.33. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, equities analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Oppenheimer upped their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on Shopify from $121.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald restated a "neutral" rating and issued a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. Finally, New Street Research began coverage on Shopify in a research report on Friday, January 10th. They issued a "neutral" rating and a $115.00 price target for the company. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $126.31.

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.