Encompass Wealth Advisors LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)


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Encompass Wealth Advisors LLC purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35 shares of the software maker’s stock, valued at approximately $40,000.

A number of other institutional investors have also recently made changes to their positions in SHOP. Cambridge Investment Research Advisors Inc. raised its stake in shares of Shopify by 4.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 20,105 shares of the software maker’s stock worth $22,758,000 after acquiring an additional 876 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Shopify by 7,939.3% during the 4th quarter. Kestra Advisory Services LLC now owns 10,853 shares of the software maker’s stock valued at $12,622,000 after purchasing an additional 10,718 shares during the last quarter. Clarius Group LLC grew its stake in Shopify by 4.8% during the 4th quarter. Clarius Group LLC now owns 241 shares of the software maker’s stock worth $273,000 after buying an additional 11 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Shopify by 0.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 52,557 shares of the software maker’s stock valued at $59,492,000 after buying an additional 188 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Shopify in the fourth quarter valued at about $175,531,000. Institutional investors and hedge funds own 56.89% of the company’s stock.

Shares of NYSE:SHOP opened at $1,159.47 on Thursday. Shopify Inc. has a 52 week low of $381.31 and a 52 week high of $1,499.75. The company has a 50-day moving average price of $1,193.03 and a 200 day moving average price of $1,120.90. The company has a market cap of $142.07 billion, a P/E ratio of 738.52, a PEG ratio of 37.63 and a beta of 1.60. The company has a quick ratio of 17.87, a current ratio of 17.87 and a debt-to-equity ratio of 0.14.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, February 17th. The software maker reported $1.58 EPS for the quarter, beating the consensus estimate of $0.56 by $1.02. Shopify had a return on equity of 2.35% and a net margin of 7.99%. The business had revenue of $977.74 million during the quarter, compared to analysts’ expectations of $906.82 million. Analysts expect that Shopify Inc. will post 1.49 EPS for the current year.

SHOP has been the subject of several research reports. Truist lifted their price objective on shares of Shopify from $1,100.00 to $1,475.00 in a research note on Thursday, February 18th. Credit Suisse Group restated a “neutral” rating and set a $1,350.00 target price on shares of Shopify in a research report on Monday. Barclays lifted their price objective on Shopify from $1,060.00 to $1,300.00 and gave the company an “equal weight” rating in a research note on Thursday, February 25th. Wolfe Research assumed coverage on Shopify in a report on Wednesday, March 31st. They issued an “outperform” rating and a $1,360.00 price objective on the stock. Finally, Evercore ISI began coverage on shares of Shopify in a research note on Monday. They issued an “in-line” rating and a $1,360.00 price target on the stock. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $1,312.09.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally. The company's platform provides merchants to run their business in 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, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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