Shopify Inc. (NYSE:SHOP) Shares Acquired by Lyell Wealth Management LP

Lyell Wealth Management LP boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,488 shares of the software maker’s stock after purchasing an additional 304 shares during the quarter. Shopify comprises approximately 1.5% of Lyell Wealth Management LP’s portfolio, making the stock its 16th biggest position. Lyell Wealth Management LP’s holdings in Shopify were worth $16,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton boosted its holdings in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in Shopify in the fourth quarter valued at approximately $39,000. Mather Group LLC. boosted its holdings in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of Shopify in the third quarter valued at approximately $45,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 0.7 %

SHOP opened at $129.20 on Wednesday. The firm has a market cap of $166.94 billion, a P/E ratio of 83.35, a PEG ratio of 5.06 and a beta of 2.47. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The business’s fifty day simple moving average is $112.48 and its 200 day simple moving average is $94.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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%. As a group, equities analysts expect that Shopify Inc. will post 1.11 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the subject of several research analyst reports. DA Davidson increased 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a report on Wednesday, February 12th. Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday. Canaccord Genuity Group increased their price objective on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, KeyCorp increased their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

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.