Financial Planning Hawaii Inc. Buys Shares of 4,923 Shopify Inc. $SHOP

Financial Planning Hawaii Inc. purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 4,923 shares of the software maker’s stock, valued at approximately $792,000.

Other large investors have also recently made changes to their positions in the company. Harrell Investment Partners LLC lifted its stake in shares of Shopify by 0.6% during the 4th quarter. Harrell Investment Partners LLC now owns 14,534 shares of the software maker’s stock worth $2,340,000 after purchasing an additional 87 shares during the last quarter. J. Safra Sarasin Holding AG grew its stake in Shopify by 30.5% in the fourth quarter. J. Safra Sarasin Holding AG now owns 2,511 shares of the software maker’s stock valued at $404,000 after purchasing an additional 587 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in Shopify by 1.9% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 471,672 shares of the software maker’s stock valued at $76,045,000 after purchasing an additional 8,632 shares during the last quarter. MOR Wealth Management LLC bought a new position in Shopify in the fourth quarter worth about $902,000. Finally, Private Advisory Group LLC raised its holdings in Shopify by 129.2% in the fourth quarter. Private Advisory Group LLC now owns 3,904 shares of the software maker’s stock worth $628,000 after purchasing an additional 2,201 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SHOP shares. Moffett Nathanson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Monday, February 9th. Wells Fargo & Company set a $191.00 price objective on shares of Shopify and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Jefferies Financial Group increased their target price on shares of Shopify from $125.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, March 9th. Barclays set a $130.00 target price on shares of Shopify and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Finally, Canaccord Genuity Group set a $165.00 price target on shares of Shopify and gave the stock a “buy” rating in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.38.

Shopify Stock Down 0.1%

SHOP opened at $111.77 on Tuesday. The company has a market cap of $145.76 billion, a P/E ratio of 120.18, a price-to-earnings-growth ratio of 3.96 and a beta of 2.83. The firm’s 50-day moving average price is $124.22 and its 200-day moving average price is $146.90. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19.

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.