McClarren Financial Advisors Inc. Buys 360 Shares of Shopify Inc. (NYSE:SHOP)

McClarren Financial Advisors Inc. raised its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 225.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 520 shares of the software maker’s stock after buying an additional 360 shares during the period. McClarren Financial Advisors Inc.’s holdings in Shopify were worth $55,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify during the 4th quarter valued at about $39,000. Mather Group LLC. boosted its stake in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares in the last quarter. Brooklyn Investment Group bought a new position in Shopify during the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton raised its stake in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of Shopify in the 4th quarter worth approximately $55,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 2.5 %

NYSE:SHOP opened at $120.46 on Thursday. The firm has a market capitalization of $155.65 billion, a P/E ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a one year low of $48.56 and a one year high of $125.95. The company’s 50-day simple moving average is $111.29 and its 200 day simple moving average is $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. As a group, analysts forecast that Shopify Inc. will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of several recent research reports. TD Securities increased their target price on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday. Oppenheimer raised their price objective on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays lifted their price objective on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank of Canada increased their target price on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group lifted their price target on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $125.14.

Shopify 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.