WealthPLAN Partners LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

WealthPLAN Partners LLC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,310 shares of the software maker’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify in the fourth quarter valued at $39,000. Mather Group LLC. raised 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 valued at $43,000 after buying an additional 184 shares during the period. Brooklyn Investment Group bought a new stake in shares of Shopify in the third quarter valued at $33,000. Rosenberg Matthew Hamilton raised its stake in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in shares of Shopify in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. New Street Research assumed coverage on Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research note on Wednesday. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Finally, Oppenheimer boosted their price objective on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.21.

Shopify Trading Up 0.6 %

Shares of SHOP stock opened at $128.36 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $128.57. 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 50 day simple moving average is $111.90 and its two-hundred day simple moving average is $92.75. The company has a market cap of $165.85 billion, a PE ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 net margin of 16.84% and a return on equity of 11.60%. Research analysts predict that Shopify Inc. will post 0.91 earnings per share 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.