IFP Advisors Inc Has $2.44 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

IFP Advisors Inc increased its holdings in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 15.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,929 shares of the software maker’s stock after buying an additional 3,045 shares during the period. IFP Advisors Inc’s holdings in Shopify were worth $2,438,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC acquired a new stake in Shopify during the 4th quarter worth approximately $132,323,000. Swiss National Bank lifted its position in shares of Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC lifted its position in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after purchasing an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SHOP shares. UBS Group boosted their price target on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Barclays boosted their price target on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. KeyCorp boosted their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, CIBC boosted their target price on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One investment 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Read Our Latest Stock Report on SHOP

Shopify Price Performance

NYSE SHOP opened at $110.89 on Wednesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a market cap of $143.58 billion, a price-to-earnings ratio of 71.54, a PEG ratio of 4.82 and a beta of 2.47. The company has a fifty day moving average price of $112.67 and a 200-day moving average price of $96.23.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last posted its quarterly earnings results 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 net margin of 22.74% and a return on equity of 12.00%. On average, research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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