LifeGoal Wealth Advisors Takes $249,000 Position in Shopify Inc. (NYSE:SHOP)

LifeGoal Wealth Advisors acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,340 shares of the software maker’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also modified their holdings of SHOP. Jennison Associates LLC acquired a new position in shares of Shopify during the 4th quarter valued at about $132,323,000. Swiss National Bank raised its stake in Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC boosted its holdings in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Shopify by 29.3% during the 3rd 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 buying an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after buying an additional 7,027 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of research analyst reports. Benchmark upgraded 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. TD Securities lifted their price objective on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. DA Davidson lifted their price target on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler increased their price objective on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Down 4.0 %

Shares of NYSE SHOP opened at $110.89 on Wednesday. The firm’s 50-day moving average price is $112.67 and its two-hundred day moving average price is $96.23. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock has a market capitalization of $143.58 billion, a P/E ratio of 71.54, a P/E/G ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

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.