Shopify Inc. (NYSE:SHOP) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,677 shares of the software maker’s stock after purchasing an additional 545 shares during the quarter. Wealthspire Advisors LLC’s holdings in Shopify were worth $1,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dakota Wealth Management lifted its stake in shares of Shopify by 14.9% in the third quarter. Dakota Wealth Management now owns 8,916 shares of the software maker’s stock worth $715,000 after buying an additional 1,157 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Shopify in the 3rd quarter valued at about $415,000. Lake Street Advisors Group LLC purchased a new position in Shopify in the 3rd quarter worth approximately $201,000. Arkadios Wealth Advisors boosted its holdings in shares of Shopify by 2.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 13,486 shares of the software maker’s stock worth $1,081,000 after purchasing an additional 367 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Shopify by 5.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 524,986 shares of the software maker’s stock valued at $41,557,000 after purchasing an additional 29,425 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SHOP shares. Mizuho lifted their price objective on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Jefferies Financial Group lifted their price target on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. Scotiabank upped their price objective 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. Citigroup raised their price objective on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Robert W. Baird increased 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. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

SHOP stock opened at $115.45 on Tuesday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market capitalization of $149.48 billion, a price-to-earnings ratio of 74.48, a PEG ratio of 4.82 and a beta of 2.47. The company’s 50 day moving average price is $112.84 and its 200 day moving average price is $95.93.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. Equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal 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.