OneAscent Financial Services LLC Buys Shares of 3,109 Shopify Inc. (NYSE:SHOP)

OneAscent Financial Services LLC acquired a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,109 shares of the software maker's stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allianz SE purchased a new position in Shopify in the fourth quarter valued at approximately $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 valued at $28,000 after buying an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC grew its position in shares of Shopify by 50.0% in the 4th 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 last quarter. New Wave Wealth Advisors LLC acquired a new stake in Shopify during the 4th quarter worth $39,000. Finally, Mather Group LLC. lifted its position in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after acquiring an additional 184 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 2.5 %

SHOP stock traded up $1.93 during mid-day trading on Monday, hitting $78.82. The company had a trading volume of 22,503,071 shares, compared to its average volume of 9,035,948. The company has a 50-day moving average price of $108.67 and a 200 day moving average price of $101.59. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a market capitalization of $102.06 billion, a price-to-earnings ratio of 50.85, a P/E/G ratio of 4.82 and a beta of 2.82.

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

Analyst Upgrades and Downgrades

SHOP has been the subject of several research analyst reports. JMP Securities reissued a "market outperform" rating and issued a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Oppenheimer lifted their price objective on shares of Shopify from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Scotiabank raised their price target on Shopify from $115.00 to $120.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price target on Shopify from $126.00 to $144.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. One equities 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 given a strong buy rating to the stock. According to MarketBeat, Shopify has an average rating of "Moderate Buy" and an average price target 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.