Sequoia Financial Advisors LLC Purchases 247 Shares of Shopify Inc. (NYSE:SHOP)

Sequoia Financial Advisors LLC grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,454 shares of the software maker’s stock after purchasing an additional 247 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Shopify were worth $1,962,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. PFG Private Wealth Management LLC increased its position in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Shopify during the 3rd quarter valued at about $33,000. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the 4th quarter valued at about $39,000. Mather Group LLC. boosted its holdings in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Shopify during the 3rd quarter valued at about $45,000. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SHOP. The Goldman Sachs Group increased their target price on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their target price on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. CIBC increased their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Canaccord Genuity Group increased their target price on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley increased their price objective on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Up 4.7 %

SHOP stock opened at $94.88 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market cap of $122.86 billion, a PE ratio of 61.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business has a 50 day moving average of $110.88 and a 200 day moving average of $98.43.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.