Stifel Financial Corp Purchases 6,964 Shares of Shopify Inc. (NYSE:SHOP)

Stifel Financial Corp raised its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 363,685 shares of the software maker's stock after purchasing an additional 6,964 shares during the period. Stifel Financial Corp's holdings in Shopify were worth $38,671,000 as of its most recent SEC filing.

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

Shopify Trading Up 2.1 %

Shares of SHOP traded up $2.00 during mid-day trading on Friday, reaching $97.12. The company's stock had a trading volume of 7,818,257 shares, compared to its average volume of 9,286,129. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market cap of $125.75 billion, a PE ratio of 62.66, a P/E/G ratio of 4.82 and a beta of 2.82. The company's fifty day moving average price is $96.79 and its two-hundred day moving average price is $101.92.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly 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 return on equity of 12.00% and a net margin of 22.74%. Research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

SHOP has been the topic of several recent research reports. TD Securities raised their price target on shares of Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their target price on Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Piper Sandler upped their price target on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their price objective on Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada cut their price objective on shares of Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Shopify has an average rating of "Moderate Buy" and an average price target of $119.67.

About Shopify

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.