Valeo Financial Advisors LLC grew its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,077 shares of the software maker's stock after purchasing an additional 2,788 shares during the quarter. Valeo Financial Advisors LLC's holdings in Shopify were worth $2,135,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in Shopify in the fourth quarter worth approximately $39,000. Mather Group LLC. lifted its stake in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after acquiring an additional 184 shares during the last quarter. Brooklyn Investment Group purchased a new position in Shopify in the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock worth $36,000 after acquiring an additional 133 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in Shopify in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 69.27% of the company's stock.
Shopify Trading Down 1.3 %
Shares of SHOP stock traded down $1.71 during trading hours on Wednesday, hitting $127.60. The company's stock had a trading volume of 7,754,981 shares, compared to its average volume of 7,999,049. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock has a market cap of $164.87 billion, a price-to-earnings ratio of 82.32, a P/E/G ratio of 5.06 and a beta of 2.47. The business has a fifty day moving average of $112.48 and a 200-day moving average of $94.23.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. On average, equities analysts expect that Shopify Inc. will post 1.11 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
SHOP has been the topic of a number of research analyst reports. Loop Capital raised shares of Shopify from a "hold" rating to a "buy" rating and raised their price objective for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Piper Sandler raised their price objective on shares of Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Phillip Securities cut shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday. CIBC raised their price objective on shares of Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Robert W. Baird lifted their target price on shares of Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $126.31.
Read Our Latest Analysis on SHOP
About Shopify
(
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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