Vestmark Advisory Solutions Inc. Purchases 43,333 Shares of Shopify Inc. (NYSE:SHOP)

Vestmark Advisory Solutions Inc. lifted its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 34.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,651 shares of the software maker's stock after acquiring an additional 43,333 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Shopify were worth $17,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the company. PFG Private Wealth Management LLC lifted its holdings in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after buying an additional 256 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Shopify during the 3rd quarter worth about $33,000. New Wave Wealth Advisors LLC acquired a new stake in Shopify in the fourth quarter valued at approximately $39,000. Mather Group LLC. grew its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Shopify during the third quarter worth about $45,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on SHOP shares. CIBC boosted their price target on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on shares of Shopify from $130.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Atb Cap Markets lowered Shopify from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Evercore ISI lifted their target price on Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, ATB Capital increased their price target on shares of Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has an average rating of "Moderate Buy" and an average price target of $126.31.

Shopify Stock Performance

SHOP stock opened at $106.40 on Thursday. The stock has a market capitalization of $137.77 billion, a PE ratio of 68.65, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The company has a fifty day moving average of $112.57 and a 200-day moving average of $97.59. Shopify Inc. has a one year low of $48.56 and a one year 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 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%. Equities analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.

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