Shopify Inc. (NYSE:SHOP) Position Boosted by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,778 shares of the software maker’s stock after acquiring an additional 1,681 shares during the quarter. Bleakley Financial Group LLC’s holdings in Shopify were worth $840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its stake in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after acquiring an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new position in Shopify during the 2nd quarter valued at about $27,000. Activest Wealth Management purchased a new position in Shopify during the 3rd quarter valued at about $33,000. Baldwin Brothers LLC MA grew its stake in Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares in the last quarter. Finally, Global Trust Asset Management LLC grew its stake in Shopify by 350.0% during the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP stock opened at $69.99 on Friday. The stock’s fifty day moving average is $77.97 and its 200-day moving average is $71.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The stock has a market capitalization of $90.05 billion, a PE ratio of 777.75 and a beta of 2.22. Shopify Inc. has a 52 week low of $45.11 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Equities research analysts expect that Shopify Inc. will post 0.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Roth Capital boosted their price target on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Shopify in a research note on Wednesday, February 14th. The Goldman Sachs Group boosted their price target on Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Jefferies Financial Group boosted their price target on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, January 5th. Finally, Robert W. Baird boosted their target price on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $77.38.

About Shopify

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.