Empower Advisory Group LLC Has $1.54 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Empower Advisory Group LLC lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,433 shares of the software maker’s stock after selling 933 shares during the quarter. Empower Advisory Group LLC’s holdings in Shopify were worth $1,535,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. increased its stake in shares of Shopify by 35.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 51,951 shares of the software maker’s stock worth $5,524,000 after purchasing an additional 13,736 shares during the last quarter. Highview Capital Management LLC DE acquired a new position in shares of Shopify during the 4th quarter worth $1,122,000. Sierra Ocean LLC acquired a new position in shares of Shopify during the 4th quarter worth $46,000. JFS Wealth Advisors LLC increased its stake in shares of Shopify by 18.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,252 shares of the software maker’s stock worth $133,000 after purchasing an additional 195 shares during the last quarter. Finally, Csenge Advisory Group increased its stake in shares of Shopify by 81.4% during the 4th quarter. Csenge Advisory Group now owns 7,526 shares of the software maker’s stock worth $800,000 after purchasing an additional 3,377 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 0.7 %

Shares of Shopify stock opened at $129.20 on Wednesday. The stock has a market capitalization of $166.94 billion, a P/E ratio of 120.75, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $112.16 and a 200 day simple moving average of $93.70. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 net margin of 16.84% and a return on equity of 11.60%. Research analysts expect that Shopify Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SHOP shares. Canaccord Genuity Group increased their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays upped their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Scotiabank increased their price target on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.