SFE Investment Counsel Takes Position in Shopify Inc. (NYSE:SHOP)

SFE Investment Counsel acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,150 shares of the software maker’s stock, valued at approximately $229,000.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after acquiring an additional 253 shares during the last quarter. CWM LLC grew its holdings in Shopify by 14.9% during the 3rd quarter. CWM LLC now owns 14,097 shares of the software maker’s stock valued at $1,130,000 after purchasing an additional 1,832 shares during the last quarter. Creative Planning raised its position in Shopify by 4.4% in the 3rd quarter. Creative Planning now owns 392,415 shares of the software maker’s stock worth $31,448,000 after purchasing an additional 16,375 shares during the period. NBC Securities Inc. lifted its stake in Shopify by 32.2% in the third quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock worth $705,000 after purchasing an additional 2,146 shares during the last quarter. Finally, Prospect Financial Services LLC bought a new stake in Shopify in the third quarter worth about $288,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 2.5 %

Shopify stock 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 has a market cap of $155.65 billion, a PE ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47. The stock’s 50 day simple moving average is $111.43 and its two-hundred day simple moving average is $92.02. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $125.95.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results 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 return on equity of 11.60% and a net margin of 16.84%. Analysts anticipate that Shopify Inc. will post 0.91 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SHOP. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group lifted their target price on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup upped their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird raised their price target on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $125.14.

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.