Congress Wealth Management LLC DE purchased a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 126,478 shares of the software maker's stock, valued at approximately $13,448,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Tidemark LLC boosted its stake in shares of Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after purchasing an additional 90 shares during the period. Howland Capital Management LLC boosted its position in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after buying an additional 99 shares during the period. Trust Co. of Vermont grew its stake in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock worth $118,000 after acquiring an additional 100 shares in the last quarter. First United Bank & Trust increased its position in shares of Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock worth $488,000 after acquiring an additional 100 shares during the period. Finally, Sunbelt Securities Inc. raised its stake in shares of Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker's stock valued at $1,162,000 after acquiring an additional 105 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Morgan Stanley raised their price objective on Shopify from $126.00 to $144.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Scotiabank raised their price target on Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.31.
Read Our Latest Research Report on Shopify
Shopify Stock Performance
Shopify stock traded down $1.79 during midday trading on Thursday, hitting $102.49. 3,924,551 shares of the company were exchanged, compared to its average volume of 8,531,102. The business has a fifty day simple moving average of $110.36 and a two-hundred day simple moving average of $100.34. The firm has a market capitalization of $132.71 billion, a PE ratio of 66.12, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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 earnings per share for the current year.
About Shopify
(
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.
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