Sagespring Wealth Partners LLC Makes New $547,000 Investment in Shopify Inc. (NYSE:SHOP)

Sagespring Wealth Partners LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,140 shares of the software maker's stock, valued at approximately $547,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHOP. Vanguard Group Inc. grew its holdings in Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after purchasing an additional 781,162 shares during the last quarter. FMR LLC grew its holdings in shares of Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after buying an additional 1,426,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares during the last quarter. FIL Ltd lifted its stake in shares of Shopify by 11.9% during the 4th quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock worth $1,678,865,000 after purchasing an additional 1,682,326 shares during the period. Finally, Norges Bank purchased a new stake in shares of Shopify in the fourth quarter valued at $1,542,262,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Performance

Shares of SHOP traded down $0.31 during midday trading on Friday, hitting $83.65. 11,591,792 shares of the stock traded hands, compared to its average volume of 9,238,801. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The business's 50 day moving average price is $100.46 and its two-hundred day moving average price is $101.46. The firm has a market capitalization of $108.31 billion, a PE ratio of 53.97, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate 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 forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SHOP shares. Loop Capital dropped their price target on Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday. Robert W. Baird boosted their price objective on shares of Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. ATB Capital raised their target price on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Citigroup raised their price objective on Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald lowered their target price on Shopify from $120.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.94.

Shopify Company 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.