Shopify Inc. (NYSE:SHOP) Shares Acquired by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,392 shares of the software maker’s stock after purchasing an additional 159 shares during the period. SRS Capital Advisors Inc.’s holdings in Shopify were worth $361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $39,000. Mather Group LLC. increased its position in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $46,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SHOP shares. Wedbush reiterated an “outperform” rating and set a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. Oppenheimer boosted their price target on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Evercore ISI boosted their price target on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Robert W. Baird boosted their price target on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, CIBC boosted their price target on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Down 5.1 %

Shares of Shopify stock opened at $106.25 on Tuesday. The stock has a market cap of $137.57 billion, a price-to-earnings ratio of 68.55, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a fifty day moving average price of $112.82 and a 200 day moving average price of $97.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current 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.