Private Wealth Management Group LLC Takes $26,000 Position in Shopify Inc. (NYSE:SHOP)

Private Wealth Management Group LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel reports. The firm bought 338 shares of the software maker’s stock, valued at approximately $26,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in Shopify by 68,983.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 186,526 shares of the software maker’s stock valued at $10,179,000 after buying an additional 186,256 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Shopify by 1.8% in the 3rd quarter. Yousif Capital Management LLC now owns 17,395 shares of the software maker’s stock valued at $949,000 after acquiring an additional 315 shares in the last quarter. Allworth Financial LP boosted its stake in Shopify by 15.4% in the 3rd quarter. Allworth Financial LP now owns 11,769 shares of the software maker’s stock worth $642,000 after purchasing an additional 1,569 shares during the period. Wealthfront Advisers LLC raised its stake in Shopify by 100.1% during the 3rd quarter. Wealthfront Advisers LLC now owns 7,937 shares of the software maker’s stock valued at $433,000 after purchasing an additional 3,971 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Shopify by 2.9% in the third quarter. M&T Bank Corp now owns 23,954 shares of the software maker’s stock worth $1,307,000 after buying an additional 675 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SHOP shares. JMP Securities raised Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Thursday, May 9th. CIBC decreased their price target on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a report on Thursday, May 9th. UBS Group upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. DA Davidson cut their target price on shares of Shopify from $90.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, TD Securities lowered their price target on shares of Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.86.

Shopify Stock Performance

SHOP stock traded up $0.72 during trading on Friday, reaching $58.53. 12,303,949 shares of the stock were exchanged, compared to its average volume of 13,386,171. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $75.43 billion, a P/E ratio of -344.29, a price-to-earnings-growth ratio of 2.35 and a beta of 2.20. The stock has a 50 day simple moving average of $72.19 and a 200-day simple moving average of $74.04.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, sell-side analysts anticipate that Shopify Inc. will post 0.59 earnings per share for the current year.

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.