4,672 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Brooklyn FI LLC

Brooklyn FI LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,672 shares of the software maker’s stock, valued at approximately $452,000.

A number of other institutional investors have also recently made changes to their positions in the stock. PFG Private Wealth Management LLC raised its holdings in 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 buying an additional 256 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Shopify during the third quarter valued at about $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the fourth quarter worth about $39,000. Mather Group LLC. grew its stake in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in Shopify during the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 8.2 %

Shares of SHOP opened at $101.69 on Thursday. The business has a 50-day simple moving average of $110.15 and a two-hundred day simple moving average of $99.10. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market cap of $131.66 billion, a price-to-earnings ratio of 65.60, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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, equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. DA Davidson increased their price objective on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. TD Securities lifted their price target on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. The Goldman Sachs Group boosted their price objective on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. New Street Research initiated coverage on shares of Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 price target on shares of Shopify in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

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.