4,400 Shares in Shopify Inc. $SHOP Bought by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA purchased a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,400 shares of the software maker’s stock, valued at approximately $654,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SHOP. Family Legacy Financial Solutions LLC purchased a new stake in shares of Shopify during the second quarter worth approximately $25,000. Financial Gravity Companies Inc. acquired a new position in Shopify during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC increased 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 valued at $27,000 after purchasing an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC purchased a new stake in shares of Shopify in the 3rd quarter valued at approximately $27,000. Finally, Tradewinds Capital Management LLC raised its holdings in shares of Shopify by 71.4% in 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 in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 1.7%

Shares of NASDAQ SHOP opened at $169.57 on Monday. The business has a 50-day moving average price of $159.88 and a 200 day moving average price of $142.09. The stock has a market cap of $220.75 billion, a PE ratio of 125.61, a price-to-earnings-growth ratio of 6.30 and a beta of 2.82. Shopify Inc. has a 52-week low of $69.84 and a 52-week 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. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. Sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

SHOP has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $181.00 target price (up previously from $156.00) on shares of Shopify in a report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price objective on shares of Shopify in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research report on Monday, December 15th. Oppenheimer restated an “outperform” rating on shares of Shopify in a research note on Monday, December 1st. Finally, DA Davidson increased their price target on shares of Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Twenty-two investment 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 target price of $168.69.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.