Kestra Investment Management LLC Acquires Shares of 603 Shopify Inc. (NYSE:SHOP)

Kestra Investment Management LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 603 shares of the software maker’s stock, valued at approximately $64,000.

A number of other institutional investors have also recently bought and sold shares of the business. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Shopify during the 3rd quarter worth approximately $45,000. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. New Street Research assumed coverage on shares of Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. Canaccord Genuity Group upped their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, UBS Group upped their price objective on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Performance

NYSE:SHOP opened at $115.40 on Friday. The firm’s fifty day moving average is $112.85 and its 200-day moving average is $95.10. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The firm has a market cap of $149.10 billion, a P/E ratio of 74.45, a P/E/G ratio of 4.98 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Profile

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.