Signature Estate & Investment Advisors LLC Takes $252,000 Position in Shopify Inc. (NYSE:SHOP)

Signature Estate & Investment Advisors LLC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,374 shares of the software maker’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. raised its position in shares of Shopify by 9.3% during the 4th quarter. EFG Asset Management North America Corp. now owns 42,452 shares of the software maker’s stock valued at $4,515,000 after acquiring an additional 3,618 shares during the last quarter. Modern Wealth Management LLC bought a new stake in Shopify in the fourth quarter valued at about $266,000. Prudential Financial Inc. lifted its stake in Shopify by 112.7% in the fourth quarter. Prudential Financial Inc. now owns 36,322 shares of the software maker’s stock valued at $3,864,000 after buying an additional 19,242 shares during the period. Sheets Smith Investment Management bought a new position in Shopify during the fourth quarter worth about $1,081,000. Finally, Congress Wealth Management LLC DE acquired a new position in shares of Shopify during the 4th quarter worth about $13,448,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Down 1.6 %

Shares of NYSE SHOP opened at $102.64 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a market cap of $132.90 billion, a PE ratio of 66.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business’s 50 day moving average price is $110.35 and its two-hundred day moving average price is $100.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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, research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several recent analyst reports. Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. New Street Research assumed coverage on shares of Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. DA Davidson raised their price objective on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. Finally, ATB Capital raised their price target on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. One investment 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.31.

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.