5,275 Shares in Shopify Inc. (NYSE:SHOP) Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,275 shares of the software maker’s stock, valued at approximately $561,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. QRG Capital Management Inc. acquired a new stake in shares of Shopify in the third quarter worth $227,000. CWA Asset Management Group LLC bought a new stake in Shopify in the 3rd quarter valued at $331,000. Assetmark Inc. grew its position in Shopify by 6.6% in the 3rd quarter. Assetmark Inc. now owns 71,120 shares of the software maker’s stock worth $5,700,000 after purchasing an additional 4,392 shares during the last quarter. Atria Investments Inc increased its holdings in shares of Shopify by 16.8% during the 3rd quarter. Atria Investments Inc now owns 158,383 shares of the software maker’s stock worth $12,693,000 after purchasing an additional 22,832 shares during the period. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Shopify by 29.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 16,197 shares of the software maker’s stock worth $1,298,000 after purchasing an additional 3,728 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. ATB Capital lifted their price objective on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. TD Securities raised their target price on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Finally, DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Down 7.6 %

SHOP stock opened at $92.49 on Tuesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a market cap of $119.76 billion, a P/E ratio of 59.67, a PEG ratio of 4.82 and a beta of 2.60. The business has a fifty day moving average of $111.97 and a 200-day moving average of $98.24.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.