Commonwealth Equity Services LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 375,269 shares of the software maker's stock after buying an additional 8,412 shares during the quarter. Commonwealth Equity Services LLC's holdings in Shopify were worth $39,902,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC grew its position in Shopify by 3,657.1% during 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 during the period. Brooklyn Investment Group bought a new stake in Shopify during the third quarter valued at approximately $33,000. New Wave Wealth Advisors LLC bought a new stake in Shopify during the fourth quarter valued at approximately $39,000. Mather Group LLC. boosted its position in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after purchasing an additional 184 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of Shopify in the third quarter worth approximately $45,000. 69.27% of the stock is currently owned by institutional investors.
Shopify Trading Up 4.7 %
Shares of SHOP opened at $94.88 on Friday. The company's fifty day simple moving average is $110.88 and its 200-day simple moving average is $98.43. The company has a market cap of $122.86 billion, a P/E ratio of 61.22, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted 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%. Analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on SHOP. JMP Securities reiterated a "market outperform" rating and issued a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. Canaccord Genuity Group upped their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a "hold" rating to a "buy" rating and upped their price target for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 price target on shares of Shopify in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $126.31.
View Our Latest Research Report on SHOP
Shopify Profile
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Shopify, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shopify wasn't on the list.
While Shopify currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
