WMG Financial Advisors LLC Takes $213,000 Position in Shopify Inc. (NYSE:SHOP)

WMG Financial Advisors LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the software maker’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC bought a new position in Shopify in the fourth quarter valued at about $132,323,000. Swiss National Bank lifted its holdings in Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after acquiring an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC lifted its holdings in Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after acquiring an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after acquiring an additional 7,027 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

NYSE:SHOP opened at $106.25 on Tuesday. The firm has a market capitalization of $137.57 billion, a price-to-earnings ratio of 68.55, a PEG ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The business has a 50 day simple moving average of $112.82 and a 200-day simple moving average of $97.34.

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

Analyst Ratings Changes

Several research analysts have recently commented on SHOP shares. JPMorgan Chase & Co. raised their price objective on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Scotiabank raised their price objective on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. CIBC raised their price objective on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised their price objective on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, TD Securities raised their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify 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.