LifeGoal Wealth Advisors Makes New $249,000 Investment in Shopify Inc. (NYSE:SHOP)

LifeGoal Wealth Advisors acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,340 shares of the software maker’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently made changes to their positions in SHOP. New Wave Wealth Advisors LLC acquired a new stake in Shopify in the 4th quarter valued at about $39,000. Mather Group LLC. increased its stake in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares during the period. Brooklyn Investment Group purchased a new position in Shopify in the third quarter worth approximately $33,000. Sierra Ocean LLC acquired a new position in Shopify during the 4th quarter worth approximately $46,000. Finally, Rosenberg Matthew Hamilton increased its position in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHOP. Jefferies Financial Group lifted their price objective on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, February 18th. DA Davidson lifted their price target on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Truist Financial increased their price objective on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Piper Sandler upped their price target on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Mizuho raised their price objective on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

Shares of NYSE:SHOP opened at $110.89 on Wednesday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm has a market capitalization of $143.58 billion, a price-to-earnings ratio of 71.54, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The business’s 50 day simple moving average is $112.67 and its 200-day simple moving average is $96.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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 anticipate that Shopify Inc. will post 1.12 earnings per share for the current 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.