Nia Impact Advisors LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,536 shares of the software maker's stock, valued at approximately $2,609,000.
Several other hedge funds have also made changes to their positions in SHOP. Aprio Wealth Management LLC boosted its holdings in shares of Shopify by 18.8% during the fourth quarter. Aprio Wealth Management LLC now owns 3,502 shares of the software maker's stock worth $372,000 after purchasing an additional 555 shares during the last quarter. Fiduciary Alliance LLC boosted its holdings in shares of Shopify by 13.2% during the fourth quarter. Fiduciary Alliance LLC now owns 13,865 shares of the software maker's stock worth $1,474,000 after purchasing an additional 1,615 shares during the last quarter. Eastern Bank boosted its holdings in shares of Shopify by 18.4% during the fourth quarter. Eastern Bank now owns 2,120 shares of the software maker's stock worth $225,000 after purchasing an additional 330 shares during the last quarter. Gunderson Capital Management Inc. acquired a new position in Shopify in the fourth quarter valued at $6,719,000. Finally, Marcum Wealth LLC boosted its holdings in Shopify by 8.7% in the fourth quarter. Marcum Wealth LLC now owns 11,598 shares of the software maker's stock valued at $1,233,000 after acquiring an additional 931 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.
Analyst Ratings Changes
SHOP has been the topic of a number of research analyst reports. National Bankshares reduced their target price on Shopify from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. ATB Capital lifted their target price on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Wedbush reiterated an "outperform" rating and issued a $110.00 target price on shares of Shopify in a report on Tuesday, April 15th. Morgan Stanley lifted their target price on Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Robert W. Baird lifted their target price on 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, fourteen have given a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $115.37.
Read Our Latest Report on Shopify
Shopify Trading Up 0.5%
NYSE SHOP traded up $0.54 on Friday, hitting $110.75. 96,037,521 shares of the stock traded hands, compared to its average volume of 9,569,946. The stock has a 50-day moving average of $94.30 and a 200 day moving average of $103.73. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a market capitalization of $143.40 billion, a P/E ratio of 71.45, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.
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 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%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.
Shopify Profile
(
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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