12,441 Shares in Shopify Inc. (NYSE:SHOP) Bought by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,441 shares of the software maker’s stock, valued at approximately $1,323,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz SE purchased a new stake in shares of Shopify during the 4th quarter worth about $27,000. PFG Private Wealth Management LLC grew its stake in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC increased its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the 4th quarter valued at $39,000. Finally, Mather Group LLC. lifted its holdings 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 in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SHOP. Scotiabank lowered their price target on Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a report on Monday, April 28th. Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Loop Capital decreased their price target on Shopify from $150.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on shares of Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One equities research 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. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.11.

Shopify Trading Down 0.9 %

SHOP opened at $98.38 on Tuesday. The business’s 50 day moving average is $94.41 and its 200-day moving average is $102.70. The stock has a market cap of $127.38 billion, a PE ratio of 63.47, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its 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%. As a group, analysts forecast that Shopify Inc. will post 1.12 EPS 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.