Bank of Jackson Hole Trust Takes $687,000 Position in Shopify Inc. (NYSE:SHOP)

Bank of Jackson Hole Trust purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 6,460 shares of the software maker’s stock, valued at approximately $687,000.

Other institutional investors have also made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in Shopify by 105.8% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 5,715 shares of the software maker’s stock worth $608,000 after purchasing an additional 2,938 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Shopify in the 4th quarter worth approximately $64,000. Venturi Wealth Management LLC lifted its holdings in Shopify by 37.0% in the 4th quarter. Venturi Wealth Management LLC now owns 16,892 shares of the software maker’s stock worth $1,796,000 after purchasing an additional 4,562 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in Shopify by 35.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 51,951 shares of the software maker’s stock worth $5,524,000 after purchasing an additional 13,736 shares during the last quarter. Finally, Highview Capital Management LLC DE acquired a new stake in Shopify in the 4th quarter worth approximately $1,122,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of NYSE:SHOP opened at $129.20 on Wednesday. The stock has a market capitalization of $166.94 billion, a price-to-earnings ratio of 83.35, a price-to-earnings-growth ratio of 5.06 and a beta of 2.47. The business’s fifty day moving average price is $112.48 and its two-hundred day moving average price is $94.23. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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%. Research analysts expect that Shopify Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird boosted their target price on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their target price on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Truist Financial upped their price target on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Finally, Evercore ISI upped their price target on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $126.31.

About Shopify

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.