AssuredPartners Investment Advisors LLC Makes New $299,000 Investment in Shopify Inc. (NYSE:SHOP)

AssuredPartners Investment Advisors LLC acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,812 shares of the software maker’s stock, valued at approximately $299,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. PFG Private Wealth Management LLC raised its holdings 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 buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its position in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the 4th quarter worth about $39,000. Mather Group LLC. lifted its position in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Shopify during the 3rd quarter valued at about $33,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP stock opened at $96.51 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The business’s fifty day moving average is $110.21 and its 200 day moving average is $100.55. The company has a market capitalization of $124.96 billion, a PE ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly 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, sell-side analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group raised their target price on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Evercore ISI lifted their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley upped their target price on shares of Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Barclays raised their price target on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

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.