Midwest Professional Planners LTD. Acquires 3,970 Shares of Shopify Inc. (NYSE:SHOP)

Midwest Professional Planners LTD. boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 60.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,540 shares of the software maker’s stock after purchasing an additional 3,970 shares during the period. Midwest Professional Planners LTD.’s holdings in Shopify were worth $1,121,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV grew its stake in Shopify by 4.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after buying an additional 209 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Shopify during the third quarter worth about $1,011,000. Verus Capital Partners LLC bought a new stake in Shopify during the third quarter worth about $219,000. Prime Capital Investment Advisors LLC grew its stake in Shopify by 1.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 13,801 shares of the software maker’s stock worth $1,106,000 after buying an additional 195 shares during the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in Shopify by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 6,059 shares of the software maker’s stock worth $486,000 after buying an additional 315 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $90.51 on Friday. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The stock has a market cap of $117.19 billion, a PE ratio of 58.39, a P/E/G ratio of 4.82 and a beta of 2.60. The firm has a 50 day simple moving average of $111.17 and a two-hundred day simple moving average of $98.29.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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 22.74% and a return on equity of 12.00%. On average, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SHOP shares. Phillip Securities cut shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their target price on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

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.