TD Private Client Wealth LLC Boosts Position in Shopify Inc. (NYSE:SHOP)

TD Private Client Wealth LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,281 shares of the software maker’s stock after purchasing an additional 905 shares during the quarter. TD Private Client Wealth LLC’s holdings in Shopify were worth $1,731,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. PFG Private Wealth Management LLC boosted its position in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the fourth quarter worth $39,000. Mather Group LLC. boosted its position 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 in the last quarter. Brooklyn Investment Group purchased a new stake in Shopify during the third quarter worth $33,000. Finally, Sierra Ocean LLC purchased a new stake in Shopify during the fourth quarter worth $46,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

SHOP stock opened at $104.29 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a market cap of $135.04 billion, a P/E ratio of 67.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The stock has a 50-day simple moving average of $110.04 and a 200-day simple moving average of $99.53.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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%. On average, equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on SHOP. JMP Securities reiterated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. ATB Capital upped their price objective on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Citigroup upped their price objective on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Wedbush restated an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research report on Tuesday, February 11th. Finally, CIBC upped their price objective on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued 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 has an average rating of “Moderate Buy” and an average price target of $126.31.

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.