Impact Capital Partners LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

Impact Capital Partners LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,617 shares of the software maker’s stock, valued at approximately $491,000.

Other hedge funds have also recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV raised its stake in shares of Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after purchasing an additional 209 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Shopify during the 3rd quarter worth $1,011,000. Verus Capital Partners LLC bought a new stake in shares of Shopify during the 3rd quarter worth $219,000. Prime Capital Investment Advisors LLC raised its stake in shares of Shopify by 1.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 13,801 shares of the software maker’s stock worth $1,106,000 after purchasing an additional 195 shares during the period. Finally, Aptus Capital Advisors LLC raised its stake in shares of Shopify by 5.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 6,059 shares of the software maker’s stock worth $486,000 after purchasing an additional 315 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Down 6.2 %

Shopify stock opened at $90.51 on Friday. The company has a market capitalization of $117.19 billion, a PE ratio of 58.39, a P/E/G ratio of 4.82 and a beta of 2.60. The firm has a fifty day simple moving average of $111.17 and a two-hundred day simple moving average of $98.29. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results 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, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SHOP shares. Wells Fargo & Company lifted their target price on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 target price on shares of Shopify in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price objective on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their price objective on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.31.

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.