Integrated Wealth Concepts LLC Purchases 5,413 Shares of Shopify Inc. (NYSE:SHOP)

Integrated Wealth Concepts LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,491 shares of the software maker's stock after buying an additional 5,413 shares during the period. Integrated Wealth Concepts LLC's holdings in Shopify were worth $3,986,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Capital World Investors boosted its stake in Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock valued at $5,646,455,000 after buying an additional 496,982 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after acquiring an additional 781,162 shares during the last quarter. FMR LLC boosted its stake in shares of Shopify by 3.4% in the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock valued at $4,653,054,000 after purchasing an additional 1,426,000 shares in the last quarter. Capital International Investors grew its holdings in shares of Shopify by 2.7% during the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock valued at $3,883,039,000 after purchasing an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 1.5 %

Shares of SHOP traded up $1.45 on Monday, reaching $98.57. 5,888,196 shares of the company's stock traded hands, compared to its average volume of 9,272,555. The stock's 50 day simple moving average is $96.21 and its two-hundred day simple moving average is $102.16. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock has a market cap of $127.63 billion, a PE ratio of 63.59, a PEG ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. Analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Benchmark raised Shopify from a "hold" rating to a "buy" rating and set a $150.00 price objective on the stock in a report on Monday, February 10th. Loop Capital lowered their target price on Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Oppenheimer boosted their price target on Shopify from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Truist Financial boosted their target price on shares of Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $118.83.

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.