Frank Rimerman Advisors LLC Purchases Shares of 2,435 Shopify Inc. (NYSE:SHOP)

Frank Rimerman Advisors LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,435 shares of the software maker’s stock, valued at approximately $259,000.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $132,323,000. Watts Gwilliam & Co. LLC lifted its stake in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after purchasing an additional 77,500 shares during the period. Wahed Invest LLC lifted its stake in shares of Shopify by 18.4% in the 3rd quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock valued at $4,618,000 after purchasing an additional 8,960 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Shopify in the 3rd quarter valued at about $33,676,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 2.0 %

Shares of NYSE SHOP opened at $96.78 on Tuesday. The stock has a fifty day simple moving average of $110.53 and a two-hundred day simple moving average of $98.94. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a market cap of $125.31 billion, a price-to-earnings ratio of 62.44, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 net margin of 22.74% and a return on equity of 12.00%. Analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

SHOP has been the topic of a number of recent analyst reports. DA Davidson boosted their price objective on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Robert W. Baird upped their price target on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Truist Financial upped their price target on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.