Marks Group Wealth Management Inc Buys 373 Shares of Shopify Inc. (NYSE:SHOP)

Marks Group Wealth Management Inc boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,110 shares of the software maker’s stock after buying an additional 373 shares during the period. Marks Group Wealth Management Inc’s holdings in Shopify were worth $862,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SHOP. GAMMA Investing LLC raised its position in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after purchasing an additional 253 shares during the period. CWM LLC increased its stake in Shopify by 14.9% during the 3rd quarter. CWM LLC now owns 14,097 shares of the software maker’s stock valued at $1,130,000 after purchasing an additional 1,832 shares in the last quarter. Creative Planning raised its holdings in Shopify by 4.4% during the third quarter. Creative Planning now owns 392,415 shares of the software maker’s stock worth $31,448,000 after buying an additional 16,375 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Shopify by 32.2% in the third quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock valued at $705,000 after buying an additional 2,146 shares in the last quarter. Finally, Prospect Financial Services LLC acquired a new position in shares of Shopify during the third quarter valued at about $288,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. Moffett Nathanson lifted their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Morgan Stanley raised their price objective on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $125.14.

Shopify Trading Down 2.5 %

NYSE:SHOP opened at $120.46 on Thursday. The company has a market cap of $155.65 billion, a P/E ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $125.95. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The stock’s fifty day moving average price is $111.29 and its two-hundred day moving average price is $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its 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 11.60% and a net margin of 16.84%. As a group, analysts expect that Shopify Inc. will post 0.91 EPS for the current year.

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.