Checchi Capital Advisers LLC Buys 208 Shares of Shopify Inc. (NYSE:SHOP)

Checchi Capital Advisers LLC raised its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,983 shares of the software maker’s stock after buying an additional 208 shares during the period. Checchi Capital Advisers LLC’s holdings in Shopify were worth $530,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SHOP. Pallas Capital Advisors LLC grew its holdings in shares of Shopify by 51.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 15,501 shares of the software maker’s stock valued at $1,237,000 after purchasing an additional 5,249 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in shares of Shopify by 38.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 13,954 shares of the software maker’s stock valued at $1,139,000 after purchasing an additional 3,857 shares during the last quarter. MONECO Advisors LLC grew its holdings in shares of Shopify by 5.0% during the 3rd quarter. MONECO Advisors LLC now owns 6,948 shares of the software maker’s stock valued at $557,000 after purchasing an additional 330 shares during the last quarter. Valmark Advisers Inc. grew its holdings in shares of Shopify by 5.5% during the 3rd quarter. Valmark Advisers Inc. now owns 10,867 shares of the software maker’s stock valued at $871,000 after purchasing an additional 568 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new position in shares of Shopify during the 3rd quarter valued at $70,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock opened at $113.46 on Thursday. The stock has a market capitalization of $146.91 billion, a PE ratio of 73.20, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a 50-day simple moving average of $112.74 and a two-hundred day simple moving average of $96.35.

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 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%. As a group, equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SHOP shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. KeyCorp raised their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Truist Financial raised their price target on shares of Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their price target on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Scotiabank raised their price target on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

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.