TD Private Client Wealth LLC Raises Stock Holdings in Shopify Inc. (NYSE:SHOP)

TD Private Client Wealth LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.9% in the fourth quarter, HoldingsChannel reports. The firm owned 16,281 shares of the software maker’s stock after purchasing an additional 905 shares during the period. TD Private Client Wealth LLC’s holdings in Shopify were worth $1,731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. PFG Private Wealth Management LLC lifted its holdings in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the last quarter. Brooklyn Investment Group bought a new position in Shopify during the 3rd quarter worth approximately $33,000. New Wave Wealth Advisors LLC bought a new position in Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. lifted its holdings in 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 buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in Shopify during the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on SHOP shares. Barclays increased their target price on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. The Goldman Sachs Group raised their price target on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, UBS Group raised their price target on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Performance

Shares of SHOP stock opened at $104.29 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a market cap of $135.04 billion, a PE ratio of 67.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business’s fifty day moving average is $110.04 and its 200-day moving average is $99.53.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Company 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.