Uniting Wealth Partners LLC Takes Position in Shopify Inc. (NYSE:SHOP)

Uniting Wealth Partners LLC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,000 shares of the software maker’s stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Allianz SE bought a new stake in Shopify during the fourth quarter valued at about $27,000. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% in 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 in the last quarter. Mark Sheptoff Financial Planning LLC grew its holdings in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in Shopify during the 4th quarter worth about $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 in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Up 3.1 %

Shopify stock opened at $100.65 on Thursday. The stock’s 50 day simple moving average is $109.77 and its two-hundred day simple moving average is $101.33. The firm has a market cap of $130.32 billion, a PE ratio of 64.94, a P/E/G ratio of 4.82 and a beta of 2.81. 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 data 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 research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

SHOP has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their price objective on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” 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 target for the company in a research report on Monday, February 10th. CIBC lifted their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price target on shares of Shopify in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

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.