Pittenger & Anderson Inc. Grows Stock Holdings in Shopify Inc. (NYSE:SHOP)

Pittenger & Anderson Inc. raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 35.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,951 shares of the software maker’s stock after buying an additional 13,736 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Shopify were worth $5,524,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SHOP. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the 4th quarter valued at approximately $39,000. Mather Group LLC. raised its position 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. Brooklyn Investment Group purchased a new position in shares of Shopify in the 3rd quarter valued at approximately $33,000. Sierra Ocean LLC purchased a new position in shares of Shopify in the 4th quarter valued at approximately $46,000. Finally, Rosenberg Matthew Hamilton raised its position in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Up 0.6 %

Shares of SHOP stock opened at $128.36 on Monday. The stock’s fifty day moving average is $111.90 and its two-hundred day moving average is $93.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The firm has a market capitalization of $165.85 billion, a P/E ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $128.57.

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 analysts’ consensus estimates 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 Ratings Changes

Several brokerages recently commented on SHOP. ATB Capital increased their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. DA Davidson increased their price target on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Scotiabank increased their price target on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.21.

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.