Marks Group Wealth Management Inc Invests $445,000 in Shopify Inc. (NYSE:SHOP)

Marks Group Wealth Management Inc bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 5,710 shares of the software maker’s stock, valued at approximately $445,000.

Other institutional investors have also made changes to their positions in the company. SJS Investment Consulting Inc. lifted its position in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares in the last quarter. Baldwin Brothers LLC MA raised its holdings in Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares in the last quarter. Global Trust Asset Management LLC raised its holdings in Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after acquiring an additional 350 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in Shopify by 1,112.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after acquiring an additional 556 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in Shopify in the fourth quarter valued at $51,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

SHOP stock opened at $74.41 on Wednesday. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $95.73 billion, a P/E ratio of 822.54 and a beta of 2.22. The company has a 50-day simple moving average of $75.91 and a 200 day simple moving average of $72.39.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sell-side analysts predict that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SHOP shares. Loop Capital cut their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. DA Davidson upped their price target on shares of Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Wells Fargo & Company cut their price target on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. CIBC boosted their target price on shares of Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Citigroup lowered their target price on shares of Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $78.30.

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.