3,000 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Sprott Inc.

Sprott Inc. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,000 shares of the software maker’s stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC lifted its stake in Shopify by 54.6% in the 4th quarter. Addison Advisors LLC now owns 586 shares of the software maker’s stock worth $62,000 after purchasing an additional 207 shares in the last quarter. Prasad Wealth Partners LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $2,748,000. IFP Advisors Inc lifted its position in Shopify by 15.3% during the fourth quarter. IFP Advisors Inc now owns 22,929 shares of the software maker’s stock worth $2,438,000 after buying an additional 3,045 shares in the last quarter. Birchcreek Wealth Management LLC acquired a new position in Shopify during the fourth quarter worth $213,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Shopify in the 4th quarter valued at $3,513,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Scotiabank lifted their price target on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. Jefferies Financial Group boosted their target price on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, February 18th. Citigroup raised their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Mizuho upped their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One equities 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

Shares of Shopify stock opened at $113.46 on Thursday. The business has a 50-day simple moving average of $112.74 and a 200-day simple moving average of $96.35. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company has a market cap of $146.91 billion, a PE ratio of 73.20, a P/E/G ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.