Oberweis Asset Management Inc. Makes New $1.22 Million Investment in Shopify Inc. (NYSE:SHOP)

Oberweis Asset Management 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 13F filing with the SEC. The fund bought 11,500 shares of the software maker's stock, valued at approximately $1,223,000.

Several other institutional investors also recently modified their holdings of SHOP. Allianz SE purchased a new position in Shopify in the fourth quarter worth $27,000. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its position in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the fourth quarter worth about $39,000. Finally, Mather Group LLC. raised its position in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after acquiring an additional 184 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 4.6 %

NYSE SHOP opened at $95.12 on Friday. The firm has a market cap of $123.16 billion, a price-to-earnings ratio of 61.37, a PEG ratio of 4.82 and a beta of 2.82. The company has a 50-day simple moving average of $97.43 and a two-hundred day simple moving average of $101.69. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SHOP. Truist Financial raised their price target on shares of Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. New Street Research initiated coverage on Shopify in a research note on Friday, January 10th. They issued a "neutral" rating and a $115.00 target price on the stock. Evercore ISI increased their price target on Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Piper Sandler lifted their price objective on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Finally, CIBC upped their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $119.66.

About Shopify

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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