Northbridge Financial Group LLC Purchases Shares of 9,028 Shopify Inc. $SHOP

Northbridge Financial Group LLC acquired a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,028 shares of the software maker’s stock, valued at approximately $1,453,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHOP. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shopify during the 4th quarter worth about $29,000. Lodestone Wealth Management LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $31,000. Sound Income Strategies LLC lifted its position in shares of Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after buying an additional 89 shares during the period. JPL Wealth Management LLC bought a new position in shares of Shopify during the 3rd quarter worth approximately $32,000. Finally, Navalign LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $34,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 1.3%

NASDAQ SHOP opened at $101.01 on Wednesday. The stock has a 50-day simple moving average of $117.88 and a 200 day simple moving average of $137.06. The company has a market capitalization of $131.08 billion, a PE ratio of 100.01, a P/E/G ratio of 2.87 and a beta of 2.64. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. As a group, sell-side analysts predict that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the subject of several analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $140.00 price target (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Mizuho raised shares of Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Thursday, February 12th. BMO Capital Markets decreased their target price on Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $175.00 target price on shares of Shopify in a report on Thursday, February 12th. Finally, Evercore set a $135.00 price objective on shares of Shopify in a research report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.42.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.