World Investment Advisors Grows Holdings in Shopify Inc. (NYSE:SHOP)

World Investment Advisors grew its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 76.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,559 shares of the software maker's stock after purchasing an additional 9,808 shares during the quarter. World Investment Advisors' holdings in Shopify were worth $2,399,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Allianz SE bought a new position in Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC increased its holdings in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% during 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. New Wave Wealth Advisors LLC bought a new stake in Shopify during the 4th quarter valued at $39,000. Finally, Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after buying an additional 184 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of SHOP opened at $76.89 on Friday. The company has a market capitalization of $99.56 billion, a P/E ratio of 49.61, a P/E/G ratio of 4.82 and a beta of 2.81. The business's 50-day moving average is $108.67 and its two-hundred day moving average is $101.22. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced 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 net margin of 22.74% and a return on equity of 12.00%. Analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on SHOP shares. JMP Securities restated a "market outperform" rating and set a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. The Goldman Sachs Group boosted their price target on shares of Shopify from $135.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Truist Financial increased their price objective on shares of Shopify from $110.00 to $120.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. DA Davidson boosted their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, Evercore ISI increased 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Shopify has an average rating of "Moderate Buy" and an average price target of $126.31.

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.

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