Shopify Inc. (NYSE:SHOP) Shares Purchased by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,873 shares of the software maker’s stock after purchasing an additional 729 shares during the quarter. Shopify comprises approximately 0.9% of Independent Solutions Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. Independent Solutions Wealth Management LLC’s holdings in Shopify were worth $4,240,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SHOP. FMR LLC grew its position in Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after acquiring an additional 484,561 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after acquiring an additional 1,621,981 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Shopify by 30.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock worth $754,201,000 after purchasing an additional 1,647,374 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Shopify by 9.6% in the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after purchasing an additional 471,280 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SHOP. UBS Group boosted their price objective on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a report on Friday, December 6th. Moffett Nathanson lifted their price objective on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Canaccord Genuity Group boosted their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Robert W. Baird raised their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Up 0.3 %

Shares of Shopify stock opened at $101.84 on Friday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a fifty day simple moving average of $110.03 and a 200-day simple moving average of $99.12. The stock has a market capitalization of $131.86 billion, a price-to-earnings ratio of 65.70, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. As a group, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current 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.