Wealth Alliance Has $532,000 Position in Shopify Inc. (NYSE:SHOP)

Wealth Alliance grew its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,832 shares of the software maker’s stock after purchasing an additional 1,440 shares during the period. Wealth Alliance’s holdings in Shopify were worth $532,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Octavia Wealth Advisors LLC raised its position in shares of Shopify by 22.4% during the fourth quarter. Octavia Wealth Advisors LLC now owns 7,916 shares of the software maker’s stock valued at $617,000 after buying an additional 1,451 shares during the last quarter. Guerra Pan Advisors LLC acquired a new position in Shopify in the fourth quarter worth about $201,000. SVB Wealth LLC raised its position in Shopify by 4.1% in the fourth quarter. SVB Wealth LLC now owns 7,221 shares of the software maker’s stock worth $563,000 after purchasing an additional 282 shares in the last quarter. Rye Brook Capital LLC acquired a new position in Shopify in the fourth quarter worth about $204,000. Finally, Flputnam Investment Management Co. acquired a new position in Shopify in the fourth quarter worth about $223,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. National Bankshares increased their price target on shares of Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. UBS Group upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Barclays decreased their price objective on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 14th. ATB Capital upped their price objective on shares of Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Finally, Robert W. Baird upped their price objective on shares of Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $78.00.

Shopify Price Performance

Shares of NYSE:SHOP opened at $69.43 on Thursday. The firm has a 50 day moving average of $77.14 and a 200-day moving average of $71.75. The stock has a market capitalization of $89.33 billion, a PE ratio of 771.53 and a beta of 2.22. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, equities research analysts predict that Shopify Inc. will post 0.58 EPS 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.