Envestnet Portfolio Solutions Inc. grew its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 31.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,356 shares of the software maker's stock after acquiring an additional 11,232 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Shopify were worth $5,035,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Empowered Funds LLC raised its holdings in shares of Shopify by 5.7% in the third quarter. Empowered Funds LLC now owns 22,446 shares of the software maker's stock valued at $1,799,000 after acquiring an additional 1,211 shares in the last quarter. Claro Advisors LLC purchased a new position in Shopify during the 3rd quarter valued at about $456,000. Thrivent Financial for Lutherans increased its position in Shopify by 100.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 88,409 shares of the software maker's stock valued at $7,086,000 after purchasing an additional 44,345 shares during the period. Pathstone Holdings LLC raised its holdings in shares of Shopify by 3.8% in the 3rd quarter. Pathstone Holdings LLC now owns 68,800 shares of the software maker's stock valued at $5,514,000 after purchasing an additional 2,487 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its position in shares of Shopify by 1.7% in the 3rd quarter. Prospera Financial Services Inc now owns 20,991 shares of the software maker's stock worth $1,682,000 after purchasing an additional 349 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. UBS Group lifted their price target on Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. ATB Capital increased their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. TD Securities lifted their target price on shares of Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Evercore ISI boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, Moffett Nathanson upped their target price on Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $126.31.
Read Our Latest Analysis on Shopify
Shopify Trading Up 2.4 %
NYSE:SHOP traded up $2.44 during trading hours on Friday, hitting $104.29. The company had a trading volume of 8,690,629 shares, compared to its average volume of 8,586,306. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market cap of $135.04 billion, a P/E ratio of 67.29, a P/E/G ratio of 4.82 and a beta of 2.60. The company has a 50-day moving average of $110.04 and a 200 day moving average of $99.33.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. On average, analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.
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.
Read More
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
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
