Independent Solutions Wealth Management LLC Buys 729 Shares of Shopify Inc. (NYSE:SHOP)

Independent Solutions Wealth Management LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,873 shares of the software maker’s stock after acquiring an additional 729 shares during the period. Shopify makes up approximately 0.9% of Independent Solutions Wealth Management LLC’s holdings, making the stock its 29th largest holding. Independent Solutions Wealth Management LLC’s holdings in Shopify were worth $4,240,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FMR LLC boosted its position in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Shopify by 30.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock worth $754,201,000 after purchasing an additional 1,647,374 shares during the period. National Bank of Canada FI boosted its holdings in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of Shopify in the 4th quarter worth approximately $132,323,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.3 %

NYSE:SHOP opened at $101.84 on Friday. The stock has a market capitalization of $131.86 billion, a PE ratio of 65.70, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a fifty day simple moving average of $110.03 and a 200 day simple moving average of $99.12.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on SHOP. Moffett Nathanson boosted their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Monday, February 10th. New Street Research started coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price for the company. Scotiabank boosted their price target on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler raised their price objective on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. One investment 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.