Resolute Advisors LLC Purchases 820 Shares of Shopify Inc. (NYSE:SHOP)

Resolute Advisors LLC lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,150 shares of the software maker’s stock after purchasing an additional 820 shares during the quarter. Shopify accounts for 0.9% of Resolute Advisors LLC’s portfolio, making the stock its 11th largest position. Resolute Advisors LLC’s holdings in Shopify were worth $4,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilltop Holdings Inc. raised its position in shares of Shopify by 72.3% during the third quarter. Hilltop Holdings Inc. now owns 12,355 shares of the software maker’s stock worth $990,000 after purchasing an additional 5,185 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Shopify by 2.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 32,078 shares of the software maker’s stock worth $2,571,000 after buying an additional 655 shares during the period. IHT Wealth Management LLC lifted its stake in Shopify by 13.6% in the third quarter. IHT Wealth Management LLC now owns 8,472 shares of the software maker’s stock valued at $678,000 after buying an additional 1,011 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Shopify by 1.6% in the third quarter. Royal London Asset Management Ltd. now owns 329,882 shares of the software maker’s stock valued at $26,437,000 after buying an additional 5,108 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of Shopify by 47.0% during the third quarter. Quantinno Capital Management LP now owns 38,951 shares of the software maker’s stock worth $3,122,000 after acquiring an additional 12,455 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SHOP. Truist Financial lifted their price target on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. TD Securities boosted their target price on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Citigroup raised their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their price objective on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 18.2 %

Shopify stock opened at $82.29 on Friday. The company has a market capitalization of $106.55 billion, a PE ratio of 53.09, a PEG ratio of 4.82 and a beta of 2.81. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm’s fifty day moving average is $109.29 and its 200 day moving average is $101.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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 return on equity of 12.00% and a net margin of 22.74%. Sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.