Root Financial Partners LLC Acquires 690 Shares of Shopify Inc. (NYSE:SHOP)

Root Financial Partners LLC increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,437 shares of the software maker’s stock after purchasing an additional 690 shares during the quarter. Root Financial Partners LLC’s holdings in Shopify were worth $472,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SHOP. GAMMA Investing LLC grew its stake in shares of Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after acquiring an additional 253 shares in the last quarter. CWM LLC increased its holdings in Shopify by 14.9% in the 3rd quarter. CWM LLC now owns 14,097 shares of the software maker’s stock worth $1,130,000 after purchasing an additional 1,832 shares in the last quarter. Creative Planning raised its position in Shopify by 4.4% in the third quarter. Creative Planning now owns 392,415 shares of the software maker’s stock valued at $31,448,000 after purchasing an additional 16,375 shares during the last quarter. NBC Securities Inc. boosted its stake in shares of Shopify by 32.2% during the third quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock valued at $705,000 after purchasing an additional 2,146 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its holdings in shares of Shopify by 2.8% during the third quarter. Sumitomo Life Insurance Co. now owns 13,112 shares of the software maker’s stock worth $1,051,000 after purchasing an additional 357 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock opened at $127.65 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $128.00. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $111.43 and a 200-day moving average price of $92.02. The company has a market cap of $164.93 billion, a PE ratio of 119.30, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 16.84% and a return on equity of 11.60%. Equities analysts anticipate that Shopify Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI increased their price objective on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Loop Capital raised Shopify from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $125.14.

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.