Shopify Inc. $SHOP Shares Bought by Hartline Investment Corp

Hartline Investment Corp raised its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 27.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 32,701 shares of the software maker’s stock after purchasing an additional 6,950 shares during the quarter. Hartline Investment Corp’s holdings in Shopify were worth $5,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. boosted its holdings in Shopify by 174.1% in the 4th quarter. Coldstream Capital Management Inc. now owns 12,834 shares of the software maker’s stock valued at $2,066,000 after purchasing an additional 8,152 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Shopify in the fourth quarter valued at about $52,015,000. St. Louis Trust Co acquired a new stake in shares of Shopify in the fourth quarter valued at about $1,162,000. Buckhead Capital Management LLC lifted its stake in shares of Shopify by 22.1% in the fourth quarter. Buckhead Capital Management LLC now owns 4,150 shares of the software maker’s stock valued at $668,000 after purchasing an additional 750 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Shopify by 23.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,617 shares of the software maker’s stock valued at $904,000 after purchasing an additional 1,072 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

NASDAQ:SHOP opened at $103.00 on Friday. The firm has a 50 day simple moving average of $116.29 and a 200-day simple moving average of $135.86. The firm has a market cap of $133.66 billion, a PE ratio of 101.98, a P/E/G ratio of 2.89 and a beta of 2.64. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. As a group, sell-side analysts expect that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on SHOP shares. Mizuho upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Thursday, February 12th. Canaccord Genuity Group cut their target price on shares of Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. UBS Group set a $130.00 target price on shares of Shopify and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. BMO Capital Markets cut their target price on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings cut shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $158.42.

About Shopify

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.