Shopify Inc. (NYSE:SHOP) Shares Bought by SlateStone Wealth LLC

SlateStone Wealth LLC lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,080 shares of the software maker’s stock after acquiring an additional 555 shares during the quarter. SlateStone Wealth LLC’s holdings in Shopify were worth $753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tidemark LLC boosted its stake in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after buying an additional 90 shares in the last quarter. Howland Capital Management LLC grew its stake in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust lifted its stake in Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after buying an additional 105 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SHOP shares. Scotiabank lifted their target price on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. TD Securities boosted their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. New Street Research assumed coverage on shares of Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price for the company. Evercore ISI boosted their price target on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group raised their price objective on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given 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, Shopify has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Up 4.7 %

SHOP opened at $94.88 on Monday. 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 $122.86 billion, a P/E ratio of 61.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The stock’s 50 day moving average price is $110.88 and its two-hundred day moving average price is $98.78.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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, analysts anticipate 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.