4,129 Shares in Shopify Inc. (NYSE:SHOP) Bought by Laidlaw Wealth Management LLC

Laidlaw Wealth Management LLC bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, Holdings Channel reports. The institutional investor bought 4,129 shares of the software maker’s stock, valued at approximately $439,000.

Several other large investors have also made changes to their positions in SHOP. Baillie Gifford & Co. raised its position in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares during the period. FMR LLC raised its position in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. National Bank of Canada FI raised its position in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the period. Massachusetts Financial Services Co. MA raised its position in Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the period. Finally, Jennison Associates LLC purchased a new position in Shopify in the fourth quarter valued at about $132,323,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research report on Tuesday, February 11th. New Street Research initiated coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective on the stock. Royal Bank of Canada raised their target price on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Oppenheimer raised their target price on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company raised their target price on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Up 0.7 %

SHOP opened at $129.20 on Wednesday. The business’s 50 day moving average is $112.48 and its 200-day moving average is $94.23. The stock has a market cap of $166.94 billion, a PE ratio of 83.35, a price-to-earnings-growth ratio of 5.06 and a beta of 2.47. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results 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 22.74% and a return on equity of 12.00%. As a group, analysts forecast that Shopify Inc. will post 1.11 EPS for the current year.

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.