PFG Private Wealth Management LLC Raises Stake in Shopify Inc. (NYSE:SHOP)

PFG Private Wealth Management LLC increased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3,657.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 263 shares of the software maker’s stock after purchasing an additional 256 shares during the period. PFG Private Wealth Management LLC’s holdings in Shopify were worth $28,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc increased its stake in Shopify by 6.6% in the 4th quarter. Atria Investments Inc now owns 168,825 shares of the software maker’s stock worth $17,951,000 after acquiring an additional 10,442 shares during the last quarter. Assetmark Inc. increased its stake in Shopify by 18.8% in the 4th quarter. Assetmark Inc. now owns 84,510 shares of the software maker’s stock worth $8,986,000 after acquiring an additional 13,390 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Shopify in the 4th quarter worth about $147,000. Keybank National Association OH increased its stake in Shopify by 6.6% in the 4th quarter. Keybank National Association OH now owns 22,963 shares of the software maker’s stock worth $2,442,000 after acquiring an additional 1,419 shares during the last quarter. Finally, AMJ Financial Wealth Management bought a new position in Shopify in the 4th quarter worth about $4,089,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 4.6 %

SHOP opened at $106.40 on Thursday. The stock has a market cap of $137.77 billion, a PE ratio of 68.65, a PEG ratio of 4.82 and a beta of 2.47. The business has a 50 day moving average of $112.57 and a 200-day moving average of $97.59. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly 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 return on equity of 12.00% and a net margin of 22.74%. Equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI upped their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Citigroup upped their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. KeyCorp increased their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average 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.