Naples Global Advisors LLC Purchases 855 Shares of Shopify Inc. (NYSE:SHOP)

Naples Global Advisors LLC increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,709 shares of the software maker’s stock after buying an additional 855 shares during the period. Naples Global Advisors LLC’s holdings in Shopify were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new position in shares of Shopify in the 4th quarter worth about $39,000. Mather Group LLC. grew its stake in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the period. Brooklyn Investment Group bought a new stake in Shopify in the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton lifted its stake 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 buying an additional 133 shares during the period. Finally, Synergy Asset Management LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP opened at $127.65 on Friday. The company has a 50-day moving average price of $111.43 and a two-hundred day moving average price of $92.02. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $128.00. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $164.93 billion, a PE ratio of 119.30, a P/E/G ratio of 2.49 and a beta of 2.47.

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

Wall Street Analyst Weigh In

SHOP has been the subject of several research analyst reports. UBS Group lifted their price objective on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday. Truist Financial lifted their price target on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. CIBC increased their price objective on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Scotiabank increased their price target on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $125.14.

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.