3,000 Shares in Shopify Inc. (NYSE:SHOP) Bought by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the software maker’s stock, valued at approximately $319,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Grant Private Wealth Management Inc acquired a new stake in shares of Shopify in the 4th quarter valued at approximately $1,116,000. Spahn Wealth & Retirement LLC acquired a new position in shares of Shopify in the fourth quarter worth $746,000. Arete Wealth Advisors LLC boosted its stake in shares of Shopify by 194.5% during the 4th quarter. Arete Wealth Advisors LLC now owns 20,976 shares of the software maker’s stock worth $2,240,000 after purchasing an additional 13,853 shares during the last quarter. World Investment Advisors boosted its position in Shopify by 76.9% during the fourth quarter. World Investment Advisors now owns 22,559 shares of the software maker’s stock worth $2,399,000 after acquiring an additional 9,808 shares during the last quarter. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Shopify in the fourth quarter valued at $331,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 3.1 %

Shares of NYSE SHOP opened at $100.65 on Thursday. The stock’s 50-day simple moving average is $109.77 and its two-hundred day simple moving average is $101.33. The firm has a market capitalization of $130.32 billion, a P/E ratio of 64.94, a P/E/G ratio of 4.82 and a beta of 2.81. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

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

Analysts Set New Price Targets

Several brokerages have commented on SHOP. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price target on shares of Shopify in a research note on Wednesday, February 12th. UBS Group lifted their price target on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. CIBC increased their target price on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. TD Securities boosted their price objective on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Shopify in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.