Avantax Planning Partners Inc. Has $349,000 Position in Shopify Inc. (NYSE:SHOP)

Avantax Planning Partners Inc. lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,284 shares of the software maker’s stock after selling 395 shares during the period. Avantax Planning Partners Inc.’s holdings in Shopify were worth $349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Howland Capital Management LLC boosted its position in Shopify by 2.0% during 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 period. Trust Co. of Vermont lifted its position in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust lifted its position in shares of Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. lifted its position 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 purchasing an additional 105 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its position 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 purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHOP. DA Davidson increased their price target on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research 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 report on Monday, February 10th. Royal Bank of Canada boosted their target price on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler boosted their target price on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 3.9 %

Shopify stock opened at $96.54 on Thursday. The business has a 50 day moving average price of $111.51 and a two-hundred day moving average price of $98.34. The stock has a market cap of $125.00 billion, a price-to-earnings ratio of 62.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify 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.