WealthPlan Investment Management LLC Purchases Shares of 3,122 Shopify Inc. (NYSE:SHOP)

WealthPlan Investment Management LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,122 shares of the software maker’s stock, valued at approximately $332,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHOP. Brooklyn Investment Group bought a new position in shares of Shopify in the 3rd quarter valued at about $33,000. Rosenberg Matthew Hamilton grew its position in shares of Shopify by 41.3% in 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 during the period. New Wave Wealth Advisors LLC bought a new position in shares of Shopify in the 4th quarter valued at about $39,000. Mather Group LLC. grew its position in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of Shopify in the 3rd quarter valued at about $45,000. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $128.36 on Friday. The company has a 50 day simple moving average of $111.90 and a 200 day simple moving average of $92.75. The stock has a market cap of $165.85 billion, a price-to-earnings ratio of 119.96, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $128.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a research report on Wednesday. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Evercore ISI lifted their target price on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday. Robert W. Baird lifted their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Canaccord Genuity Group lifted their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average target price of $126.21.

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.