HighPoint Advisor Group LLC Has $2.83 Million Holdings in Shopify Inc. (NYSE:SHOP)

HighPoint Advisor Group LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,567 shares of the software maker’s stock after buying an additional 686 shares during the period. HighPoint Advisor Group LLC’s holdings in Shopify were worth $2,825,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Allianz SE acquired a new stake in shares of Shopify during the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC lifted its stake in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the 4th quarter valued at $39,000. Finally, Mather Group LLC. increased its stake in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SHOP. Barclays upped their price objective on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Robert W. Baird raised their price target on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. The Goldman Sachs Group raised their target price on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada set a $145.00 price target on shares of Shopify and gave the stock an “outperform” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Down 1.2 %

Shares of NYSE SHOP opened at $95.48 on Tuesday. The firm has a market cap of $123.63 billion, a PE ratio of 61.60, a P/E/G ratio of 4.82 and a beta of 2.60. The company’s fifty day simple moving average is $110.06 and its 200 day simple moving average is $101.15. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

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%. On average, equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

About Shopify

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.