Shopify Inc. (NYSE:SHOP) Shares Bought by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 49.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,437 shares of the software maker’s stock after purchasing an additional 4,476 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Shopify were worth $1,429,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new position in Shopify in the fourth quarter valued at approximately $39,000. Mather Group LLC. increased its position in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Shopify in the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in Shopify during the 4th quarter worth $55,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several research reports. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada boosted their price target on Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday. Wedbush reiterated an “outperform” rating and set a $125.00 price objective on shares of Shopify in a research note on Tuesday. Finally, Moffett Nathanson upped their target price on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Price Performance

Shares of SHOP opened at $127.65 on Friday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $128.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The stock has a fifty day moving average price of $111.43 and a 200 day moving average price of $92.02. The company has a market cap of $164.93 billion, a P/E ratio of 119.30, a PEG ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. On average, research analysts forecast that Shopify Inc. will post 0.91 earnings per share for the current 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.