PUREfi Wealth LLC Purchases New Stake in Shopify Inc. (NYSE:SHOP)

PUREfi Wealth LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,674 shares of the software maker’s stock, valued at approximately $603,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its stake in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares during the period. FMR LLC lifted its position in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Shopify by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after acquiring an additional 484,561 shares during the period. National Bank of Canada FI lifted its position in shares of Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after acquiring an additional 1,621,981 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Shopify by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after acquiring an additional 471,280 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $128.36 on Friday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $165.85 billion, a price-to-earnings ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. The stock has a 50 day moving average of $111.70 and a 200 day moving average of $92.27. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $128.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly 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 net margin of 16.84% and a return on equity of 11.60%. As a group, sell-side analysts forecast that Shopify Inc. will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. New Street Research assumed coverage on Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price for the company. Canaccord Genuity Group upped their price target on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $125.00 price target on shares of Shopify in a research report on Tuesday. Finally, JMP Securities restated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.21.

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.