31,174 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Virtu Financial LLC

Virtu Financial LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,174 shares of the software maker’s stock, valued at approximately $3,315,000.

A number of other hedge funds have also modified their holdings of the business. Tidemark LLC increased its position in Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after purchasing an additional 90 shares in the last quarter. Howland Capital Management LLC lifted its stake in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont lifted its stake in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust lifted its stake in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after purchasing an additional 105 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Up 2.4 %

Shares of NYSE:SHOP opened at $104.29 on Friday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a market capitalization of $135.04 billion, a PE ratio of 67.29, a PEG ratio of 4.82 and a beta of 2.60. The business’s 50 day moving average is $110.04 and its 200-day moving average is $99.33.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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 return on equity of 12.00% and a net margin of 22.74%. On average, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

SHOP has been the topic of several recent research reports. TD Securities boosted their price target on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. The Goldman Sachs Group boosted their price target on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler boosted their price target on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. One 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify 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.