Three Seasons Wealth LLC Purchases New Shares in Shopify Inc. (NYSE:SHOP)

Three Seasons Wealth LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,203 shares of the software maker’s stock, valued at approximately $1,723,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Allianz SE bought a new stake in shares of Shopify during the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC lifted its holdings in Shopify by 3,657.1% during 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 in the last quarter. Mark Sheptoff Financial Planning LLC boosted its position in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the 4th quarter valued at about $39,000. Finally, Mather Group LLC. grew its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in 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 subject of a number of research reports. TD Securities boosted their price target on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Robert W. Baird upped their target price on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their price target on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research note on Tuesday, February 18th. Cantor Fitzgerald cut their target price on shares of Shopify from $120.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler increased their price objective on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.66.

Shopify Trading Up 4.6 %

SHOP opened at $95.12 on Friday. The firm has a market capitalization of $123.16 billion, a PE ratio of 61.37, a PEG ratio of 4.82 and a beta of 2.82. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm’s 50-day moving average price is $97.43 and its 200 day moving average price is $101.69.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 fiscal 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.