GPS Wealth Strategies Group LLC Has $728,000 Stake in Shopify Inc. $SHOP

GPS Wealth Strategies Group LLC decreased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 71.0% during the 4th quarter, HoldingsChannel reports. The fund owned 4,521 shares of the software maker’s stock after selling 11,071 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Shopify were worth $728,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Kingdom Financial Group LLC. acquired a new position in Shopify during the 4th quarter worth about $26,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify during the 4th quarter worth about $29,000. Lodestone Wealth Management LLC acquired a new position in Shopify during the 4th quarter worth about $31,000. Sound Income Strategies LLC lifted its holdings in Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after buying an additional 89 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new position in Shopify during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SHOP shares. ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Robert W. Baird set a $150.00 price objective on Shopify in a research note on Wednesday, May 6th. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Arete Research set a $175.00 price objective on Shopify in a research note on Monday, February 2nd. Finally, Phillip Securities raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.42.

Shopify Stock Down 1.8%

Shares of NASDAQ:SHOP opened at $103.00 on Friday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The stock’s 50 day moving average is $116.29 and its 200-day moving average is $135.86. The firm has a market capitalization of $133.66 billion, a price-to-earnings ratio of 101.98, a PEG ratio of 2.94 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Equities research analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.