Cetera Investment Advisers raised its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 3.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 258,786 shares of the software maker's stock after purchasing an additional 9,490 shares during the period. Cetera Investment Advisers' holdings in Shopify were worth $27,517,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Allianz SE acquired a new stake in Shopify during the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC increased 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 acquiring an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its position in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in Shopify during the fourth quarter worth $39,000. Finally, Mather Group LLC. boosted its holdings 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 purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.
Shopify Stock Up 0.7 %
Shares of SHOP opened at $94.50 on Thursday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a market cap of $122.36 billion, a price-to-earnings ratio of 60.97, a P/E/G ratio of 4.82 and a beta of 2.66. The company has a 50-day moving average price of $93.73 and a two-hundred day moving average price of $102.58.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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 research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.
Analysts Set New Price Targets
SHOP has been the topic of a number of recent research reports. Jefferies Financial Group reduced their price target on shares of Shopify from $130.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday. KeyCorp cut their target price on shares of Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird upped 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. Phillip Securities downgraded Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. Finally, TD Securities upped their price objective on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Shopify presently has an average rating of "Moderate Buy" and an average price target of $116.00.
Get Our Latest Research Report on Shopify
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.
See Also
Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Shopify, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shopify wasn't on the list.
While Shopify currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
