Checchi Capital Advisers LLC Buys 208 Shares of Shopify Inc. (NYSE:SHOP)

Checchi Capital Advisers LLC lifted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,983 shares of the software maker’s stock after acquiring an additional 208 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Shopify were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC bought a new stake in Shopify during the fourth quarter valued at approximately $132,323,000. Swiss National Bank grew its position in Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after buying an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC grew its position in Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after buying an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after buying an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

SHOP stock opened at $113.46 on Thursday. The company has a market capitalization of $146.91 billion, a PE ratio of 73.20, a P/E/G ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm’s 50-day moving average is $112.74 and its 200 day moving average is $96.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 12.00% and a net margin of 22.74%. Sell-side analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SHOP. JPMorgan Chase & Co. boosted their target price on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada lifted their price target on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price target on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their price target on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

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.