SFE Investment Counsel Takes $229,000 Position in Shopify Inc. (NYSE:SHOP)

SFE Investment Counsel bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,150 shares of the software maker’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SHOP. Howland Capital Management LLC increased its stake in Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after buying an additional 99 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after acquiring an additional 100 shares during the last quarter. First United Bank & Trust increased its position in shares of Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after purchasing an additional 105 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SHOP shares. DA Davidson increased their target price on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Monday. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. The Goldman Sachs Group upped their price target on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Securities lifted their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Price Performance

Shopify stock opened at $120.46 on Thursday. The stock has a market cap of $155.65 billion, a P/E ratio of 112.58, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a fifty day simple moving average of $111.43 and a 200-day simple moving average of $92.02. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $125.95.

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 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%. Equities analysts expect that Shopify Inc. will post 0.91 EPS for the current fiscal 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.