Creative Financial Designs Inc. ADV Buys 245 Shares of Shopify Inc. (NYSE:SHOP)

Creative Financial Designs Inc. ADV lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,495 shares of the software maker’s stock after purchasing an additional 245 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Shopify were worth $584,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. SlateStone Wealth LLC increased its holdings in shares of Shopify by 8.5% during the 4th quarter. SlateStone Wealth LLC now owns 7,080 shares of the software maker’s stock worth $753,000 after acquiring an additional 555 shares during the last quarter. Facet Wealth Inc. acquired a new position in shares of Shopify during the 4th quarter worth approximately $207,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Shopify by 31.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 47,356 shares of the software maker’s stock worth $5,035,000 after acquiring an additional 11,232 shares during the last quarter. Tidemark LLC increased its holdings in shares of Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after acquiring an additional 90 shares during the last quarter. Finally, Choate Investment Advisors acquired a new position in shares of Shopify during the 4th quarter worth approximately $593,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 2.8 %

Shopify stock opened at $93.90 on Wednesday. The company has a market capitalization of $121.58 billion, a PE ratio of 60.58, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a 50-day moving average price of $110.27 and a two-hundred day moving average price of $99.08.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SHOP shares. Wedbush reissued an “outperform” rating and set a $125.00 target price on shares of Shopify in a report on Tuesday, February 11th. JMP Securities reissued a “market outperform” rating and set a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price objective on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average 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.