Guardian Partners Inc. Takes Position in Shopify Inc. (NYSE:SHOP)

Guardian Partners Inc. bought a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,625 shares of the software maker's stock, valued at approximately $1,683,000.

A number of other large investors have also recently made changes to their positions in the stock. PFG Private Wealth Management LLC raised its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Shopify in the 3rd quarter valued at $33,000. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the 4th quarter valued at $39,000. Mather Group LLC. lifted its stake in shares of Shopify by 84.8% during the 4th 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 last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Shopify during the 3rd quarter worth $45,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shopify stock traded up $0.65 during trading on Tuesday, reaching $109.93. The company had a trading volume of 5,618,732 shares, compared to its average volume of 8,608,385. The firm's 50-day simple moving average is $110.19 and its 200 day simple moving average is $100.01. The firm has a market capitalization of $142.34 billion, a PE ratio of 70.92, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its 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 anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on SHOP. JMP Securities reiterated a "market outperform" rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Barclays boosted their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Piper Sandler raised their target price on shares of Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Royal Bank of Canada set a $145.00 price target on Shopify and gave the stock an "outperform" rating in a research report on Friday. Finally, CIBC raised their price objective on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.31.

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.