Spahn Wealth & Retirement LLC Acquires Shares of 7,013 Shopify Inc. (NYSE:SHOP)

Spahn Wealth & Retirement LLC bought a new stake 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 and Exchange Commission. The fund bought 7,013 shares of the software maker’s stock, valued at approximately $746,000. Shopify makes up 0.5% of Spahn Wealth & Retirement LLC’s holdings, making the stock its 22nd largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Shopify by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after acquiring an additional 781,162 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. Norges Bank bought a new stake in shares of Shopify in the 4th quarter worth approximately $1,542,262,000. National Bank of Canada FI grew its stake in shares of Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Shopify by 30.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after buying an additional 1,647,374 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 3.1 %

Shares of Shopify stock opened at $100.65 on Thursday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock’s 50-day simple moving average is $109.77 and its 200-day simple moving average is $101.33. The company has a market capitalization of $130.32 billion, a price-to-earnings ratio of 64.94, a PEG ratio of 4.82 and a beta of 2.81.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

SHOP has been the topic of a number of recent research reports. Evercore ISI increased 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. CIBC increased their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Citigroup lifted their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Truist Financial increased their price target on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.