Wellspring Financial Advisors LLC Invests $201,000 in Shopify Inc. (NYSE:SHOP)

Wellspring Financial Advisors LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,888 shares of the software maker’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allianz SE purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC lifted its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify during the fourth quarter valued at $39,000. Finally, Mather Group LLC. raised its position in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock opened at $76.89 on Monday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market cap of $99.56 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81. The firm’s 50-day simple moving average is $108.67 and its 200-day simple moving average is $101.59.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued 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 return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the topic of several research analyst reports. Citigroup lifted their target price on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their price objective on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. TD Securities boosted their price target on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company 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.