2,000 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the software maker’s stock, valued at approximately $213,000.

A number of other large investors have also added to or reduced their stakes in SHOP. Brooklyn Investment Group purchased a new stake in Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton boosted its position in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the period. New Wave Wealth Advisors LLC bought a new position in Shopify during the fourth quarter worth about $39,000. Mather Group LLC. boosted its position in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the period. Finally, Truvestments Capital LLC bought a new position in Shopify during the third quarter worth about $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP stock opened at $115.40 on Monday. The company has a market capitalization of $149.42 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company’s 50 day moving average price is $112.85 and its two-hundred day moving average price is $95.60.

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%. On average, research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SHOP shares. Jefferies Financial Group increased their target price 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. TD Securities increased their target price on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Morgan Stanley increased their target price on shares of Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. Finally, Oppenheimer increased their target price on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $126.31.

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.