5,247 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Petra Financial Advisors Inc.

Petra Financial Advisors Inc. purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, Holdings Channel reports. The fund purchased 5,247 shares of the software maker’s stock, valued at approximately $558,000.

Several other institutional investors also recently added to or reduced their stakes in SHOP. PFG Private Wealth Management LLC increased its position in Shopify by 3,657.1% during the 4th 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 during the period. Brooklyn Investment Group purchased a new position in Shopify during the 3rd quarter valued at about $33,000. New Wave Wealth Advisors LLC purchased a new position in Shopify during the 4th quarter valued at about $39,000. Mather Group LLC. increased its position in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the period. Finally, Truvestments Capital LLC purchased a new position in Shopify during the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Barclays lifted their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Scotiabank lifted their price objective on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. TD Securities lifted their price objective on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Finally, Citigroup lifted their price objective on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Performance

Shares of NYSE SHOP opened at $96.78 on Tuesday. The firm has a market cap of $125.31 billion, a PE ratio of 62.44, a PEG ratio of 4.82 and a beta of 2.60. The firm has a fifty day moving average of $110.53 and a 200 day moving average of $98.94. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

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

About Shopify

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.