Shopify Inc. (NYSE:SHOP) Shares Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,241 shares of the software maker’s stock after acquiring an additional 582 shares during the period. Simplicity Wealth LLC’s holdings in Shopify were worth $876,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PFG Private Wealth Management LLC lifted its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the fourth quarter valued at $39,000. Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Shopify in the third quarter valued at $33,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Shopify in the fourth quarter valued at $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Robert W. Baird upped their target price on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their target price on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. Jefferies Financial Group upped their target price on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, February 18th. Finally, DA Davidson upped their target price on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Performance

Shares of NYSE SHOP opened at $100.00 on Monday. The firm has a market cap of $129.48 billion, a price-to-earnings ratio of 64.52, a P/E/G ratio of 4.82 and a beta of 2.60. The business’s 50-day simple moving average is $112.26 and its 200-day simple moving average is $98.11. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

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 the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Company 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.