7,168 Shares in Shopify Inc. (NYSE:SHOP) Bought by Parkworth Wealth Management Inc.

Parkworth Wealth Management Inc. purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,168 shares of the software maker’s stock, valued at approximately $762,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its position in Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC boosted its holdings in shares of Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. National Bank of Canada FI lifted its holdings in Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Shopify by 52.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after buying an additional 1,325,350 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Shopify in the fourth quarter worth $132,323,000. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on SHOP shares. Mizuho lifted their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. The Goldman Sachs Group lifted their price target on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. One equities 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

Shares of SHOP stock opened at $92.79 on Wednesday. The stock’s 50 day simple moving average is $111.70 and its two-hundred day simple moving average is $98.36. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market cap of $120.15 billion, a PE ratio of 59.86, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued 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 return on equity of 12.00% and a net margin of 22.74%. Equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

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.