Root Financial Partners LLC Has $472,000 Stake in Shopify Inc. (NYSE:SHOP)

Root Financial Partners LLC grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,437 shares of the software maker’s stock after purchasing an additional 690 shares during the quarter. Root Financial Partners LLC’s holdings in Shopify were worth $472,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Howland Capital Management LLC boosted its holdings in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont raised its position in shares of Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after buying an additional 100 shares during the last quarter. First United Bank & Trust lifted its stake in shares of Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after buying an additional 100 shares during the period. Sunbelt Securities Inc. grew its position in Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after buying an additional 105 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its stake in Shopify by 3.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after acquiring an additional 107 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 5.9 %

Shares of NYSE SHOP opened at $127.65 on Friday. The firm’s 50-day moving average is $111.43 and its 200-day moving average is $92.02. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $128.00. The firm has a market capitalization of $164.93 billion, a PE ratio of 119.30, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities analysts expect that Shopify Inc. will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHOP. TD Securities raised their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday. Barclays upped their target price on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday. Robert W. Baird lifted their price target on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $125.14.

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.