Venturi Wealth Management LLC Raises Stock Holdings in Shopify Inc. (NYSE:SHOP)

Venturi Wealth Management LLC increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,892 shares of the software maker’s stock after purchasing an additional 4,562 shares during the period. Venturi Wealth Management LLC’s holdings in Shopify were worth $1,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOP. Brooklyn Investment Group purchased a new stake in Shopify in the third quarter worth $33,000. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% in 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 purchased a new stake in shares of Shopify in the fourth quarter worth $39,000. Mather Group LLC. grew its stake 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 last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Shopify in the third quarter worth $45,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

NYSE:SHOP opened at $129.20 on Wednesday. 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 $129.38. The stock has a 50-day moving average price of $112.16 and a 200 day moving average price of $93.70. The stock has a market capitalization of $166.94 billion, a P/E ratio of 120.75, a P/E/G ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results 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 research analysts forecast that Shopify Inc. will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of a number of recent research reports. Jefferies Financial Group increased their target price on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. CIBC increased their target price on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Robert W. Baird increased their target price on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Scotiabank increased their target price on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.