McClarren Financial Advisors Inc. Boosts Stock Holdings in Shopify Inc. (NYSE:SHOP)

McClarren Financial Advisors Inc. lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 225.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 520 shares of the software maker’s stock after buying an additional 360 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in Shopify were worth $55,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Howland Capital Management LLC increased its stake in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after acquiring an additional 99 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust grew its holdings in shares of Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. increased its position in Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after purchasing an additional 105 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its stake in Shopify by 3.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $120.46 on Thursday. The firm has a market cap of $155.65 billion, a price-to-earnings ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $125.95. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $111.29 and its 200 day moving average is $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, sell-side analysts anticipate that Shopify Inc. will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. DA Davidson lifted their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. New Street Research initiated coverage on Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective on the stock. Barclays raised their price objective on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Oppenheimer raised their price target on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.14.

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.