Shopify Inc. (NYSE:SHOP) Stock Holdings Increased by Certuity LLC

Certuity LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.0% during the 4th quarter, Holdings Channel reports. The fund owned 20,062 shares of the software maker’s stock after purchasing an additional 763 shares during the period. Certuity LLC’s holdings in Shopify were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. acquired a new position in shares of Shopify during the 3rd quarter valued at $47,000. Simplicity Solutions LLC grew its holdings in shares of Shopify by 13.9% in the 3rd quarter. Simplicity Solutions LLC now owns 9,097 shares of the software maker’s stock worth $496,000 after acquiring an additional 1,110 shares during the last quarter. Clarius Group LLC acquired a new position in shares of Shopify in the 3rd quarter worth $270,000. Commonwealth Equity Services LLC grew its holdings in shares of Shopify by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 384,168 shares of the software maker’s stock worth $20,964,000 after acquiring an additional 6,066 shares during the last quarter. Finally, RMR Wealth Builders grew its holdings in shares of Shopify by 12.5% in the 3rd quarter. RMR Wealth Builders now owns 12,687 shares of the software maker’s stock worth $692,000 after acquiring an additional 1,410 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Mizuho lifted their target price on Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Truist Financial lifted their target price on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th. Roth Capital raised their target price on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Wells Fargo & Company decreased their target price on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Shopify has a consensus rating of “Hold” and a consensus target price of $78.62.

Shopify Stock Performance

SHOP traded down $1.41 on Tuesday, hitting $71.07. 5,969,281 shares of the stock traded hands, compared to its average volume of 9,305,517. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $91.44 billion, a PE ratio of 815.76 and a beta of 2.22. The business has a fifty day moving average price of $75.10 and a two-hundred day moving average price of $72.89.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. On average, research analysts predict that Shopify Inc. will post 0.58 EPS for the current fiscal 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.