Marks Group Wealth Management Inc Has $862,000 Position in Shopify Inc. (NYSE:SHOP)

Marks Group Wealth Management Inc lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,110 shares of the software maker’s stock after buying an additional 373 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Shopify were worth $862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Baillie Gifford & Co. increased its stake in Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares during the period. FMR LLC lifted its position in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. National Bank of Canada FI increased its position in shares of Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Shopify during the fourth quarter worth about $132,323,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several recent analyst reports. KeyCorp raised their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research note on Tuesday. Barclays upped their target price on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.14.

Shopify Stock Performance

Shares of SHOP opened at $120.46 on Thursday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm’s fifty day simple moving average is $111.29 and its two-hundred day simple moving average is $91.82. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $125.95. The stock has a market capitalization of $155.65 billion, a P/E ratio of 112.58, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. As a group, analysts predict that Shopify Inc. will post 0.91 EPS for the current year.

Shopify Company 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.