3,065 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Elite Wealth Management Inc.

Elite Wealth Management Inc. acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,065 shares of the software maker’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Industrial Alliance Investment Management Inc. boosted its stake in shares of Shopify by 292.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock valued at $74,000 after buying an additional 82 shares during the period. Turim 21 Investimentos Ltda. acquired a new stake in shares of Shopify during the 1st quarter valued at $148,000. Fairfield Bush & CO. acquired a new stake in shares of Shopify during the 1st quarter valued at $169,000. First Manhattan Co. boosted its stake in shares of Shopify by 317.5% during the 1st quarter. First Manhattan Co. now owns 263 shares of the software maker’s stock valued at $177,000 after buying an additional 200 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its stake in shares of Shopify by 508.2% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 298 shares of the software maker’s stock valued at $201,000 after buying an additional 249 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BNP Paribas downgraded shares of Shopify from a “neutral” rating to an “underperform” rating in a report on Thursday, January 18th. National Bankshares raised their price target on shares of Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Mizuho lifted their target price on shares of Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. ATB Capital lifted their target price on shares of Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Finally, Truist Financial lifted their target price on shares of Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 12th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $78.00.

Shopify Stock Up 0.2 %

SHOP traded up $0.13 during trading on Wednesday, hitting $68.70. 9,249,204 shares of the company’s stock were exchanged, compared to its average volume of 6,767,313. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $77.45 and its two-hundred day moving average is $71.76. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The stock has a market cap of $88.39 billion, a P/E ratio of 763.31 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. As a group, equities analysts expect that Shopify Inc. will post 0.58 earnings per share for the current fiscal 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.