Shopify Inc. (NYSE:SHOP) Stock Position Raised by CreativeOne Wealth LLC

CreativeOne Wealth LLC lifted its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 123.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,643 shares of the software maker's stock after purchasing an additional 6,992 shares during the period. CreativeOne Wealth LLC's holdings in Shopify were worth $1,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. World Investment Advisors LLC grew its holdings in Shopify by 113.4% during the 3rd quarter. World Investment Advisors LLC now owns 12,751 shares of the software maker's stock worth $1,022,000 after acquiring an additional 6,776 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Shopify during the 3rd quarter worth about $615,000. Synovus Financial Corp purchased a new position in shares of Shopify in the 3rd quarter valued at about $481,000. Peapack Gladstone Financial Corp raised its position in shares of Shopify by 29.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 9,551 shares of the software maker's stock worth $765,000 after acquiring an additional 2,162 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its holdings in Shopify by 700.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 1,000 shares of the software maker's stock valued at $80,000 after purchasing an additional 875 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on SHOP. Wells Fargo & Company boosted their price objective on shares of Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Barclays upped their target price on Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. UBS Group lifted their target price on shares of Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Citigroup lifted their price objective on shares of Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald dropped their price target on Shopify from $120.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.94.

Shopify Stock Performance

Shares of SHOP stock traded up $1.23 during mid-day trading on Tuesday, reaching $82.87. 1,978,556 shares of the company were exchanged, compared to its average volume of 10,057,451. The company has a market capitalization of $107.30 billion, a P/E ratio of 53.50, a P/E/G ratio of 4.82 and a beta of 2.82. The business's 50 day simple moving average is $99.68 and its 200 day simple moving average is $101.78. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week 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 (EPS) 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%. On average, analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.