Certior Financial Group LLC Purchases New Shares in Shopify Inc. (NYSE:SHOP)

Certior Financial Group LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,883 shares of the software maker’s stock, valued at approximately $200,000.

A number of other hedge funds also recently bought and sold shares of SHOP. Tidemark LLC grew its holdings in shares of Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after buying an additional 90 shares in the last quarter. Howland Capital Management LLC boosted its position in Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after acquiring an additional 99 shares during the period. Trust Co. of Vermont grew its stake in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares in the last quarter. First United Bank & Trust increased its holdings 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 period. Finally, Mark Sheptoff Financial Planning LLC lifted its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

NYSE:SHOP opened at $78.82 on Tuesday. The firm’s 50-day moving average is $108.10 and its 200-day moving average is $101.59. The company has a market cap of $102.06 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 4.82 and a beta of 2.82. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SHOP shares. Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Canaccord Genuity Group upped their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler increased their price objective on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. New Street Research initiated coverage on Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Finally, Morgan Stanley raised their price target on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price 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.