24,536 Shares in Shopify Inc. (NYSE:SHOP) Bought by Nia Impact Advisors LLC

Nia Impact Advisors LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 24,536 shares of the software maker’s stock, valued at approximately $2,609,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allianz SE purchased a new stake in shares of Shopify during the fourth quarter worth $27,000. PFG Private Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Shopify by 50.0% during 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 stake in shares of Shopify during the fourth quarter worth $39,000. Finally, Mather Group LLC. raised its holdings in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Up 3.2%

NYSE:SHOP opened at $107.68 on Wednesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a 50 day moving average of $93.35 and a 200-day moving average of $103.26. The stock has a market capitalization of $139.43 billion, a P/E ratio of 69.47, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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%. As a group, analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on Shopify from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Canaccord Genuity Group raised their target price on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Oppenheimer cut their target price on Shopify from $150.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Royal Bank of Canada cut their target price on Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley raised their target price on Shopify from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.37.

Shopify Company 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.