WealthPlan Investment Management LLC Makes New $332,000 Investment in Shopify Inc. (NYSE:SHOP)

WealthPlan Investment Management LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,122 shares of the software maker’s stock, valued at approximately $332,000.

A number of other institutional investors have also recently added to or reduced their stakes in SHOP. Howland Capital Management LLC boosted its stake in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the last quarter. First United Bank & Trust boosted its stake in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after purchasing an additional 105 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its stake in shares of Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

SHOP opened at $128.36 on Friday. The firm has a market cap of $165.85 billion, a P/E ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. The firm has a 50-day moving average of $111.90 and a 200 day moving average of $92.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $128.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results 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 16.84% and a return on equity of 11.60%. On average, research analysts expect that Shopify Inc. will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of analyst reports. UBS Group upped their price objective on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore ISI increased their target price on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Wedbush reissued an “outperform” rating and set a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. Finally, Robert W. Baird increased their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” 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-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $126.21.

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.