Perennial Investment Advisors LLC Purchases 339 Shares of Shopify Inc. (NYSE:SHOP)

Perennial Investment Advisors LLC raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,715 shares of the software maker’s stock after purchasing an additional 339 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Shopify were worth $1,246,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Allianz SE acquired a new stake in Shopify in the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC grew its stake in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify in the fourth quarter worth $39,000. Finally, Mather Group LLC. boosted its holdings in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Down 6.6 %

Shares of NYSE:SHOP opened at $76.89 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company’s 50 day moving average price is $108.67 and its two-hundred day moving average price is $101.22. The firm has a market cap of $99.56 billion, a PE ratio of 49.61, a PEG ratio of 4.82 and a beta of 2.81.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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, research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Oppenheimer lifted their price target on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price target on shares of Shopify in a research report on Wednesday, February 12th. Royal Bank of Canada set a $145.00 price target on Shopify and gave the stock an “outperform” rating in a research report on Friday, March 21st. Finally, Citigroup increased their price objective on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

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.