9,424 Shares in Shopify Inc. $SHOP Purchased by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc purchased a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,424 shares of the software maker’s stock, valued at approximately $1,401,000. Shopify accounts for 0.9% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 28th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Family Legacy Financial Solutions LLC purchased a new position in shares of Shopify during the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. purchased a new stake in Shopify in the second quarter worth $27,000. Rothschild Investment LLC boosted its holdings in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Heartwood Wealth Advisors LLC bought a new stake in Shopify in the third quarter valued at $27,000. Finally, Tradewinds Capital Management LLC increased its position in Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SHOP. Stifel Nicolaus set a $175.00 target price on shares of Shopify in a research report on Tuesday, November 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $181.00 price objective (up from $156.00) on shares of Shopify in a research report on Wednesday, November 5th. BNP Paribas Exane started coverage on Shopify in a research report on Monday, November 24th. They issued a “neutral” rating for the company. Oppenheimer restated an “outperform” rating on shares of Shopify in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Shopify in a research report on Monday. Twenty-two research analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $166.53.

Shopify Stock Up 2.1%

Shopify stock opened at $163.14 on Wednesday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The company has a market capitalization of $212.38 billion, a P/E ratio of 120.84, a PEG ratio of 5.94 and a beta of 2.82. The stock’s 50 day moving average is $159.54 and its 200 day moving average is $140.80.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) 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 business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. As a group, equities analysts expect 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.