Shopify Inc. (NYSE:SHOP) Shares Bought by Zhang Financial LLC

Zhang Financial LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,971 shares of the software maker’s stock after purchasing an additional 939 shares during the period. Zhang Financial LLC’s holdings in Shopify were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. SJS Investment Consulting Inc. increased its holdings in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new position in Shopify in the second quarter valued at $27,000. Baldwin Brothers LLC MA increased its holdings in Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after buying an additional 147 shares in the last quarter. Global Trust Asset Management LLC increased its holdings in Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after buying an additional 350 shares in the last quarter. Finally, Vestor Capital LLC purchased a new position in Shopify in the second quarter valued at $35,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent analyst reports. ATB Capital lifted their price objective on shares of Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. UBS Group upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. BNP Paribas cut shares of Shopify from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 18th. Wells Fargo & Company decreased their target price on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Finally, Barclays decreased their target price on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Shopify has an average rating of “Hold” and an average price target of $78.30.

Shopify Stock Up 0.3 %

Shares of NYSE SHOP opened at $69.70 on Friday. The stock has a market cap of $89.67 billion, a PE ratio of 774.53 and a beta of 2.22. The business has a fifty day moving average of $76.35 and a two-hundred day moving average of $71.84. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. As a group, equities research analysts expect that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

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.