Cerity Partners LLC Raises Stake in Shopify Inc. $SHOP

Cerity Partners LLC boosted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 12.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 110,455 shares of the software maker’s stock after acquiring an additional 12,510 shares during the period. Cerity Partners LLC’s holdings in Shopify were worth $12,741,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Family Legacy Financial Solutions LLC purchased a new position in Shopify during the second quarter worth approximately $25,000. Financial Gravity Companies Inc. purchased a new position in shares of Shopify in the 2nd quarter worth $27,000. Rothschild Investment LLC raised its position in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares during the period. Tradewinds Capital Management LLC boosted its holdings in Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Finally, Coastline Trust Co purchased a new stake in Shopify during the second quarter valued at about $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Oppenheimer reiterated an “outperform” rating on shares of Shopify in a report on Monday, December 1st. BMO Capital Markets lifted their price target on shares of Shopify from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Benchmark reissued a “buy” rating on shares of Shopify in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research note on Monday. Finally, Robert W. Baird upped their price target on shares of Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $166.53.

Shopify Price Performance

Shares of SHOP stock opened at $168.42 on Thursday. The company’s fifty day moving average price is $159.27 and its two-hundred day moving average price is $138.95. The firm has a market capitalization of $219.26 billion, a P/E ratio of 124.76, a P/E/G ratio of 5.94 and a beta of 2.82. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. On average, sell-side analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

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.