Shopify Inc. (NYSE:SHOP) Shares Purchased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 242.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,560 shares of the software maker’s stock after acquiring an additional 6,058 shares during the period. Lake Street Advisors Group LLC’s holdings in Shopify were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in SHOP. Brooklyn Investment Group bought a new position in Shopify during the third quarter worth $33,000. Rosenberg Matthew Hamilton raised its holdings in shares of 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 shares of Shopify in the 4th quarter worth about $39,000. Mather Group LLC. boosted its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Shopify during the 3rd quarter valued at about $45,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on SHOP shares. Moffett Nathanson raised their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Barclays raised their price target on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. New Street Research began coverage on Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. ATB Capital raised their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $113.46 on Thursday. The company has a market capitalization of $146.91 billion, a PE ratio of 73.20, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The stock has a fifty day moving average of $112.74 and a 200-day moving average of $96.35. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its 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 return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts forecast that Shopify Inc. will post 1.12 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.