PDS Planning Inc Purchases 2,187 Shares of Shopify Inc. (NYSE:SHOP)

PDS Planning Inc increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,959 shares of the software maker’s stock after purchasing an additional 2,187 shares during the period. PDS Planning Inc’s holdings in Shopify were worth $1,165,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SHOP. PFG Private Wealth Management LLC raised its position in Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Shopify in the 3rd quarter valued at $33,000. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the 4th quarter valued at $39,000. Mather Group LLC. raised its position in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Shopify in the 3rd quarter valued at $45,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on SHOP. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Scotiabank increased their price target on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. TD Securities raised their target price on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. UBS Group raised their target price on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler raised their target price on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Up 2.0 %

Shares of SHOP opened at $96.78 on Tuesday. The company has a market cap of $125.31 billion, a PE ratio of 62.44, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The stock has a 50-day moving average price of $110.53 and a 200-day moving average price of $98.94. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results 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, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

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.