Ritholtz Wealth Management Has $976,000 Holdings in Shopify Inc. (NYSE:SHOP)

Ritholtz Wealth Management raised its stake in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,533 shares of the software maker’s stock after buying an additional 2,213 shares during the quarter. Ritholtz Wealth Management’s holdings in Shopify were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SHOP. Trueblood Wealth Management LLC bought a new position in Shopify during the 4th quarter worth approximately $254,000. Good Life Advisors LLC boosted its position in shares of Shopify by 2.1% during the fourth quarter. Good Life Advisors LLC now owns 21,844 shares of the software maker’s stock worth $1,702,000 after purchasing an additional 445 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of Shopify by 1.5% in the 4th quarter. Procyon Advisors LLC now owns 44,315 shares of the software maker’s stock valued at $3,452,000 after buying an additional 646 shares during the period. PFG Investments LLC bought a new stake in shares of Shopify in the 4th quarter valued at $208,000. Finally, Schechter Investment Advisors LLC acquired a new stake in Shopify during the 4th quarter worth $273,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the subject of several recent analyst reports. Citigroup lowered their price target on Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Atb Cap Markets cut Shopify from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, December 6th. Mizuho lifted their price target on shares of Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. National Bankshares increased their price objective 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. Finally, CIBC boosted their price objective on shares of Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Shopify presently has a consensus rating of “Hold” and a consensus price target of $77.05.

Check Out Our Latest Analysis on SHOP

Shopify Price Performance

Shares of NYSE SHOP opened at $77.17 on Friday. The business’s 50 day moving average is $79.32 and its 200-day moving average is $70.09. The firm has a market cap of $99.28 billion, a P/E ratio of 857.54 and a beta of 2.22. Shopify Inc. has a 1-year low of $43.50 and a 1-year high of $91.57. 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 (NYSE:SHOPGet Free Report) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Equities research analysts predict that Shopify Inc. will post 0.57 earnings per share for the current year.

Shopify Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.