Brooklyn FI LLC Takes Position in Shopify Inc. (NYSE:SHOP)

Brooklyn FI LLC acquired a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,672 shares of the software maker's stock, valued at approximately $452,000.

Several other hedge funds have also recently made changes to their positions in the business. Maryland State Retirement & Pension System increased its position in Shopify by 3.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 128,489 shares of the software maker's stock valued at $13,669,000 after buying an additional 3,758 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Shopify during the 4th quarter valued at about $6,653,000. Evoke Wealth LLC boosted its stake in Shopify by 2.8% during the 4th quarter. Evoke Wealth LLC now owns 6,611 shares of the software maker's stock valued at $703,000 after purchasing an additional 180 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Shopify by 149.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 220,108 shares of the software maker's stock valued at $23,182,000 after purchasing an additional 131,699 shares during the last quarter. Finally, PDS Planning Inc boosted its stake in Shopify by 24.9% during the 4th quarter. PDS Planning Inc now owns 10,959 shares of the software maker's stock valued at $1,165,000 after purchasing an additional 2,187 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

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Shopify Stock Performance

Shares of NYSE SHOP traded up $2.44 during trading hours on Friday, hitting $104.29. The company's stock had a trading volume of 8,690,629 shares, compared to its average volume of 8,602,471. The stock has a market cap of $135.04 billion, a price-to-earnings ratio of 67.29, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The business has a 50-day simple moving average of $110.04 and a 200-day simple moving average of $99.53.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SHOP shares. Moffett Nathanson lifted their price target on Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. upped their target price on Shopify from $121.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Jefferies Financial Group upped their target price on Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a report on Tuesday, February 18th. Finally, CIBC upped their target price on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and an average target price of $126.31.

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.