3,348 Shares in Shopify Inc. (NYSE:SHOP) Bought by RWA Wealth Partners LLC

RWA Wealth Partners LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,348 shares of the software maker’s stock, valued at approximately $356,000.

Other large investors have also recently added to or reduced their stakes in the company. Allianz SE acquired a new stake in Shopify in the 4th quarter valued at about $27,000. PFG Private Wealth Management LLC boosted its stake in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC increased its holdings in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in Shopify during the fourth quarter worth $39,000. Finally, Mather Group LLC. increased its holdings in shares of Shopify by 84.8% in the fourth 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 last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several research analyst reports. TD Securities lifted their target price on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. The Goldman Sachs Group boosted their price objective on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Scotiabank increased their target price on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. DA Davidson boosted their price target on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group increased their price objective on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One 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 data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 2.3 %

Shares of Shopify stock opened at $97.64 on Wednesday. The stock has a market cap of $126.43 billion, a price-to-earnings ratio of 62.99, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company’s fifty day moving average is $109.88 and its 200 day moving average is $101.33.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share 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.