Shopify Inc. (NYSE:SHOP) Shares Purchased by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 194.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,976 shares of the software maker's stock after buying an additional 13,853 shares during the quarter. Arete Wealth Advisors LLC's holdings in Shopify were worth $2,240,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Tidemark LLC lifted its stake in shares of Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after buying an additional 90 shares during the period. Howland Capital Management LLC boosted its holdings in shares of Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock worth $526,000 after purchasing an additional 99 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust increased its stake in Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock valued at $488,000 after purchasing an additional 100 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its stake in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Phillip Securities downgraded shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 17th. Evercore ISI boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price target on Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Shopify has an average rating of "Moderate Buy" and an average price target of $126.31.

Shopify Stock Performance

Shares of NYSE SHOP traded up $1.93 during trading on Monday, reaching $78.82. The stock had a trading volume of 22,503,137 shares, compared to its average volume of 9,035,957. The firm's 50 day moving average price is $108.67 and its two-hundred day moving average price is $101.59. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The stock has a market cap of $102.06 billion, a PE ratio of 50.85, a P/E/G 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 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%. On average, research analysts expect that Shopify Inc. will post 1.12 earnings per share 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.