Spahn Wealth & Retirement LLC Purchases Shares of 7,013 Shopify Inc. (NYSE:SHOP)

Spahn Wealth & Retirement LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,013 shares of the software maker’s stock, valued at approximately $746,000. Shopify makes up about 0.5% of Spahn Wealth & Retirement LLC’s portfolio, making the stock its 22nd largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arete Wealth Advisors LLC lifted its position in Shopify by 194.5% in the fourth quarter. Arete Wealth Advisors LLC now owns 20,976 shares of the software maker’s stock worth $2,240,000 after buying an additional 13,853 shares during the last quarter. World Investment Advisors lifted its holdings in shares of Shopify by 76.9% in the 4th quarter. World Investment Advisors now owns 22,559 shares of the software maker’s stock worth $2,399,000 after acquiring an additional 9,808 shares during the last quarter. OneAscent Financial Services LLC purchased a new position in shares of Shopify during the 4th quarter worth about $331,000. Huntington National Bank grew its holdings in Shopify by 1.2% during the 4th quarter. Huntington National Bank now owns 310,981 shares of the software maker’s stock valued at $33,067,000 after purchasing an additional 3,804 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Shopify by 21.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,669,564 shares of the software maker’s stock worth $496,515,000 after purchasing an additional 821,421 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of NYSE SHOP opened at $100.65 on Thursday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The company has a market cap of $130.32 billion, a PE ratio of 64.94, a P/E/G ratio of 4.82 and a beta of 2.81. The business has a 50-day simple moving average of $109.77 and a two-hundred day simple moving average of $101.33.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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%. On average, sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SHOP. Morgan Stanley upped their target price on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada set a $145.00 price objective on Shopify and gave the company an “outperform” rating in a research report on Friday, March 21st. Canaccord Genuity Group lifted their target price on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Finally, TD Securities lifted their price objective on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

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.