Addison Advisors LLC Purchases 207 Shares of Shopify Inc. (NYSE:SHOP)

Addison Advisors LLC lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 54.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 586 shares of the software maker’s stock after buying an additional 207 shares during the period. Addison Advisors LLC’s holdings in Shopify were worth $62,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. increased its position in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Brooklyn Investment Group acquired a new position in Shopify during the 3rd quarter worth approximately $33,000. Sierra Ocean LLC acquired a new position in Shopify during the 4th quarter worth approximately $46,000. Finally, Rosenberg Matthew Hamilton increased its position in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in 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 stock. DA Davidson upped their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Jefferies Financial Group upped their price objective on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, February 18th. Evercore ISI upped their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Barclays upped their price target on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, New Street Research assumed coverage on shares of Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Down 4.0 %

Shopify stock opened at $110.89 on Wednesday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a market capitalization of $143.58 billion, a price-to-earnings ratio of 71.54, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The firm’s fifty day moving average price is $112.67 and its two-hundred day moving average price is $96.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, research analysts forecast that Shopify Inc. will post 1.12 EPS 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.