Sequoia Financial Advisors LLC Acquires 247 Shares of Shopify Inc. (NYSE:SHOP)

Sequoia Financial Advisors LLC grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.4% in the fourth quarter, Holdings Channel reports. The firm owned 18,454 shares of the software maker’s stock after buying an additional 247 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Shopify were worth $1,962,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. PFG Private Wealth Management LLC grew its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify in the fourth quarter worth $39,000. Mather Group LLC. grew its holdings in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the period. Brooklyn Investment Group bought a new stake in shares of Shopify in the third quarter worth $33,000. Finally, Sierra Ocean LLC bought a new stake in shares of Shopify in the fourth quarter worth $46,000. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE SHOP opened at $94.88 on Friday. The stock has a market capitalization of $122.86 billion, a P/E ratio of 61.22, a PEG ratio of 4.82 and a beta of 2.60. The business’s 50 day moving average is $110.88 and its two-hundred day moving average is $98.43. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SHOP. JPMorgan Chase & Co. lifted their price objective on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft lifted their target price on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their target price on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One investment 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify 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.