Guardian Partners Inc. Buys Shares of 15,625 Shopify Inc. (NYSE:SHOP)

Guardian Partners Inc. bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 15,625 shares of the software maker’s stock, valued at approximately $1,683,000.

A number of other large investors have also recently modified their holdings of SHOP. Thrivent Financial for Lutherans boosted its holdings in shares of Shopify by 100.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 88,409 shares of the software maker’s stock valued at $7,086,000 after purchasing an additional 44,345 shares in the last quarter. Pathstone Holdings LLC lifted its stake in shares of Shopify by 3.8% in the 3rd quarter. Pathstone Holdings LLC now owns 68,800 shares of the software maker’s stock valued at $5,514,000 after acquiring an additional 2,487 shares during the last quarter. Moors & Cabot Inc. lifted its stake in shares of Shopify by 79.0% in the 3rd quarter. Moors & Cabot Inc. now owns 6,582 shares of the software maker’s stock valued at $527,000 after acquiring an additional 2,905 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Shopify by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,416,436 shares of the software maker’s stock worth $193,802,000 after purchasing an additional 136,530 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in Shopify by 121.3% during the 3rd quarter. Raymond James Trust N.A. now owns 24,813 shares of the software maker’s stock worth $1,989,000 after purchasing an additional 13,600 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SHOP. Citigroup raised their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. ATB Capital lifted their price objective on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group lifted their price objective on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Moffett Nathanson lifted their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Robert W. Baird lifted their price objective on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 2.4 %

Shares of NYSE SHOP opened at $104.29 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock’s 50 day moving average price is $110.04 and its 200-day moving average price is $99.53. The company 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.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. As a group, research 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.