Gladstone Institutional Advisory LLC Boosts Holdings in Shopify Inc. (NYSE:SHOP)

Gladstone Institutional Advisory LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 49.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,437 shares of the software maker’s stock after buying an additional 4,476 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Shopify were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter worth about $33,000. Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. boosted its position in shares of 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 last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify in the third quarter valued at $45,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Shopify in a report on Tuesday. KeyCorp raised their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, UBS Group increased their target price on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.14.

Shopify Stock Performance

NYSE SHOP opened at $127.65 on Friday. The business’s 50-day moving average price is $111.43 and its 200 day moving average price is $92.02. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $128.00. The company has a market capitalization of $164.93 billion, a PE ratio of 119.30, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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 return on equity of 11.60% and a net margin of 16.84%. On average, research analysts predict that Shopify Inc. will post 0.91 earnings per share for the current 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.