Shopify Inc. $SHOP Shares Acquired by Mission Wealth Management LP

Mission Wealth Management LP grew its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 276.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,737 shares of the software maker’s stock after buying an additional 10,824 shares during the quarter. Mission Wealth Management LP’s holdings in Shopify were worth $2,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC grew its stake in shares of Shopify by 1.7% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after buying an additional 59 shares in the last quarter. Moloney Securities Asset Management LLC grew its stake in shares of Shopify by 1.8% in the third quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after buying an additional 70 shares in the last quarter. Seros Financial LLC grew its stake in shares of Shopify by 2.7% in the third quarter. Seros Financial LLC now owns 2,856 shares of the software maker’s stock valued at $424,000 after buying an additional 75 shares in the last quarter. First Affirmative Financial Network grew its stake in shares of Shopify by 3.4% in the third quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock valued at $338,000 after buying an additional 75 shares in the last quarter. Finally, TBH Global Asset Management LLC grew its stake in shares of Shopify by 1.2% in the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock valued at $1,036,000 after buying an additional 75 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research reports. Citigroup dropped their price objective on Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Truist Financial set a $150.00 price objective on Shopify and gave the company a “buy” rating in a research note on Tuesday, February 17th. BMO Capital Markets lowered their target price on Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Canaccord Genuity Group lowered their target price on Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Oppenheimer reissued an “outperform” rating and set a $175.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.42.

Shopify Price Performance

SHOP opened at $102.39 on Tuesday. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a market capitalization of $132.87 billion, a price-to-earnings ratio of 101.38, a PEG ratio of 2.81 and a beta of 2.64. The business has a fifty day moving average price of $118.47 and a 200 day moving average price of $137.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. On average, research analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current year.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.