Huntington National Bank boosted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 310,981 shares of the software maker's stock after acquiring an additional 3,804 shares during the quarter. Huntington National Bank's holdings in Shopify were worth $33,067,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidemark LLC raised its holdings in shares of Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after buying an additional 90 shares in the last quarter. Howland Capital Management LLC lifted its holdings in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock worth $526,000 after acquiring an additional 99 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Shopify by 9.9% in the 4th 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 in the last quarter. First United Bank & Trust grew its holdings in shares of Shopify by 2.2% during the 4th 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 raised its position in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.
Shopify Trading Up 3.1 %
Shopify stock traded up $3.01 during trading on Wednesday, reaching $100.65. The company had a trading volume of 7,856,663 shares, compared to its average volume of 8,812,093. The firm has a market capitalization of $130.32 billion, a price-to-earnings ratio of 64.94, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81. The firm's 50-day simple moving average is $109.77 and its 200 day simple moving average is $101.33. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data 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 predict that Shopify Inc. will post 1.12 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Benchmark raised Shopify from a "hold" rating to a "buy" rating and set a $150.00 price objective on the stock in a research note on Monday, February 10th. Phillip Securities downgraded Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. New Street Research assumed coverage on shares of Shopify in a report on Friday, January 10th. They issued a "neutral" rating and a $115.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, Loop Capital raised shares of Shopify from a "hold" rating to a "buy" rating and raised their price target for the stock from $110.00 to $140.00 in a report on Friday, December 6th. One 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 assigned a strong buy rating to the company's stock. According to MarketBeat, Shopify has an average rating of "Moderate Buy" and a consensus target price of $126.31.
Check Out Our Latest Stock Report on Shopify
Shopify Company Profile
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Free Report)
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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