10,494 Shares in Shopify Inc. (NYSE:SHOP) Bought by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc bought 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 disclosure with the Securities & Exchange Commission. The firm bought 10,494 shares of the software maker's stock, valued at approximately $1,116,000. Shopify accounts for about 1.2% of Grant Private Wealth Management Inc's investment portfolio, making the stock its 23rd largest position.

A number of other hedge funds have also added to or reduced their stakes in SHOP. Tidemark LLC grew its stake in shares of Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after buying an additional 90 shares during the period. Howland Capital Management LLC lifted its holdings in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock worth $526,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont grew its position in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust increased its stake in Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock valued at $488,000 after purchasing an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in Shopify by 50.0% during the fourth 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 during the last quarter. 69.27% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SHOP shares. Canaccord Genuity Group boosted their target price 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. Royal Bank of Canada set a $145.00 target price on Shopify and gave the company an "outperform" rating in a research report on Friday, March 21st. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. 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 note on Wednesday, February 12th. Finally, JMP Securities reissued a "market outperform" rating and set a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has an average rating of "Moderate Buy" and a consensus price target of $126.31.

Shopify Stock Performance

SHOP traded down $5.40 on Friday, reaching $76.89. The company had a trading volume of 29,669,766 shares, compared to its average volume of 8,981,941. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a market cap of $99.56 billion, a price-to-earnings ratio of 49.61, a P/E/G ratio of 4.82 and a beta of 2.81. The business has a 50 day simple moving average of $108.67 and a 200 day simple moving average of $101.22.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted 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 return on equity of 12.00% and a net margin of 22.74%. As a group, equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.