Shopify Inc. (NYSE:SHOP) Shares Acquired by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 194.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,976 shares of the software maker’s stock after buying an additional 13,853 shares during the period. Arete Wealth Advisors LLC’s holdings in Shopify were worth $2,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Hilltop Holdings Inc. increased its position in Shopify by 72.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,355 shares of the software maker’s stock valued at $990,000 after acquiring an additional 5,185 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Shopify by 2.1% during the third quarter. Integrated Wealth Concepts LLC now owns 32,078 shares of the software maker’s stock valued at $2,571,000 after purchasing an additional 655 shares during the period. IHT Wealth Management LLC raised its stake in shares of Shopify by 13.6% during the third quarter. IHT Wealth Management LLC now owns 8,472 shares of the software maker’s stock valued at $678,000 after purchasing an additional 1,011 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in Shopify by 1.6% in the third quarter. Royal London Asset Management Ltd. now owns 329,882 shares of the software maker’s stock worth $26,437,000 after purchasing an additional 5,108 shares during the period. Finally, Quantinno Capital Management LP grew its position in Shopify by 47.0% in the 3rd quarter. Quantinno Capital Management LP now owns 38,951 shares of the software maker’s stock valued at $3,122,000 after buying an additional 12,455 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SHOP. Morgan Stanley boosted their price target on shares of Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Canaccord Genuity Group lifted their price target on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. DA Davidson upped their price objective on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada set a $145.00 price target on shares of Shopify and gave the stock an “outperform” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, fifteen have issued 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

Shares of SHOP opened at $82.29 on Friday. The company has a market capitalization of $106.55 billion, a PE ratio of 53.09, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company’s fifty day moving average price is $109.29 and its 200 day moving average price is $101.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its 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%. Analysts anticipate 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.