2,500 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Birinyi Associates Inc.

Birinyi Associates Inc. acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,500 shares of the software maker’s stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sprott Inc. purchased a new position in Shopify during the fourth quarter valued at approximately $319,000. Addison Advisors LLC lifted its holdings in Shopify by 54.6% during the fourth quarter. Addison Advisors LLC now owns 586 shares of the software maker’s stock valued at $62,000 after purchasing an additional 207 shares in the last quarter. Prasad Wealth Partners LLC purchased a new position in Shopify during the fourth quarter valued at approximately $2,748,000. IFP Advisors Inc lifted its holdings in Shopify by 15.3% during the fourth quarter. IFP Advisors Inc now owns 22,929 shares of the software maker’s stock valued at $2,438,000 after purchasing an additional 3,045 shares in the last quarter. Finally, Birchcreek Wealth Management LLC purchased a new position in Shopify during the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on SHOP shares. Barclays lifted their price target on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Piper Sandler lifted their price target on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Royal Bank of Canada boosted their target price on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. 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, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Down 4.0 %

Shares of SHOP opened at $110.89 on Wednesday. The firm has a market capitalization of $143.58 billion, a P/E ratio of 71.54, a P/E/G ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm has a fifty day moving average price of $112.67 and a 200-day moving average price of $96.23.

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