Modera Wealth Management LLC Buys New Position in Shopify Inc. (NYSE:SHOP)

Modera Wealth Management LLC purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,289 shares of the software maker’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Howland Capital Management LLC grew its holdings in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after acquiring an additional 99 shares during the last quarter. Trust Co. of Vermont raised its holdings in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after buying an additional 100 shares during the period. First United Bank & Trust lifted its stake in Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after buying an additional 100 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after buying an additional 105 shares during the period. Finally, Redhawk Wealth Advisors Inc. boosted its holdings in shares of Shopify by 3.3% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after buying an additional 107 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. Canaccord Genuity Group increased their target price on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. ATB Capital lifted their price target on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Monday, February 10th. Finally, Robert W. Baird upped their target price on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 4.6 %

SHOP stock opened at $106.40 on Thursday. The business’s 50-day simple moving average is $112.57 and its 200 day simple moving average is $97.59. The company has a market cap of $137.77 billion, a PE ratio of 68.65, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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 anticipate that Shopify Inc. will post 1.12 EPS for the current year.

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.