Marcum Wealth LLC Has $748,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Marcum Wealth LLC grew its position in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,606 shares of the software maker’s stock after purchasing an additional 1,201 shares during the period. Marcum Wealth LLC’s holdings in Shopify were worth $748,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Shopify by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock worth $2,233,344,000 after buying an additional 634,883 shares during the period. Norges Bank purchased a new stake in Shopify in the 4th quarter worth about $414,365,000. Scge Management L.P. boosted its holdings in shares of Shopify by 0.9% in the second quarter. Scge Management L.P. now owns 8,486,491 shares of the software maker’s stock worth $548,227,000 after acquiring an additional 79,491 shares during the period. TD Asset Management Inc lifted its stake in Shopify by 4.4% in the 3rd quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock worth $389,052,000 after purchasing an additional 299,788 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Shopify by 6.5% during the 3rd quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock valued at $339,750,000 after acquiring an additional 377,901 shares during the last quarter. Institutional investors own 60.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SHOP shares. The Goldman Sachs Group lifted their price objective on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Canaccord Genuity Group raised their price objective on Shopify from $70.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. Mizuho raised their target price on shares of Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. TD Securities upped their target price on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday, December 6th. Finally, Jefferies Financial Group upped their price target on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $76.42.

Get Our Latest Stock Analysis on Shopify

Shopify Trading Up 0.5 %

NYSE SHOP opened at $77.53 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. Shopify Inc. has a one year low of $42.78 and a one year high of $91.57. The company’s 50 day moving average price is $79.61 and its 200 day moving average price is $69.41. The firm has a market capitalization of $99.75 billion, a price-to-earnings ratio of 861.54 and a beta of 2.22.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. On average, sell-side analysts predict that Shopify Inc. will post 0.57 EPS for the current year.

Shopify Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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