Barlow Wealth Partners Inc. Takes $672,000 Position in Shopify Inc. (NYSE:SHOP)

Barlow Wealth Partners Inc. purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,625 shares of the software maker’s stock, valued at approximately $672,000.

Several other large investors have also recently added to or reduced their stakes in SHOP. Welch & Forbes LLC boosted its stake in shares of Shopify by 86.7% in the fourth quarter. Welch & Forbes LLC now owns 91,673 shares of the software maker’s stock valued at $7,141,000 after purchasing an additional 42,581 shares during the period. Apollon Wealth Management LLC increased its position in shares of Shopify by 6.5% during the fourth quarter. Apollon Wealth Management LLC now owns 115,225 shares of the software maker’s stock worth $8,976,000 after acquiring an additional 7,002 shares during the last quarter. Lincoln National Corp lifted its stake in shares of Shopify by 11.2% in the fourth quarter. Lincoln National Corp now owns 7,907 shares of the software maker’s stock worth $616,000 after acquiring an additional 794 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Shopify by 0.8% in the fourth quarter. Maryland State Retirement & Pension System now owns 39,786 shares of the software maker’s stock valued at $3,099,000 after purchasing an additional 334 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Shopify by 7.5% in the 4th quarter. Private Advisor Group LLC now owns 31,572 shares of the software maker’s stock valued at $2,459,000 after purchasing an additional 2,208 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Robert W. Baird lifted their target price on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Wedbush reiterated a “neutral” rating and issued a $68.00 target price on shares of Shopify in a research note on Tuesday, February 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Shopify in a report on Wednesday, February 14th. DA Davidson boosted their target price on shares of Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Barclays cut their price target on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.00.

Shopify Trading Down 18.5 %

Shares of SHOP traded down $14.24 during trading hours on Wednesday, reaching $62.81. The stock had a trading volume of 58,261,614 shares, compared to its average volume of 9,837,176. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company has a market cap of $80.81 billion, a P/E ratio of 689.30 and a beta of 2.20. The firm has a 50-day moving average of $74.74 and a 200 day moving average of $73.78.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, sell-side analysts expect that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Shopify 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.