Clare Market Investments LLC Purchases New Position in Shopify Inc. (NYSE:SHOP)

Clare Market Investments LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,000 shares of the software maker’s stock, valued at approximately $851,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vista Investment Partners II LLC purchased a new stake in Shopify during the 4th quarter worth approximately $254,000. Simplicity Wealth LLC increased its stake in Shopify by 7.6% during the 4th quarter. Simplicity Wealth LLC now owns 8,241 shares of the software maker’s stock worth $876,000 after buying an additional 582 shares in the last quarter. SLT Holdings LLC purchased a new stake in Shopify during the 4th quarter worth approximately $572,000. Sowell Financial Services LLC increased its stake in Shopify by 2.6% during the 4th quarter. Sowell Financial Services LLC now owns 24,798 shares of the software maker’s stock worth $2,637,000 after buying an additional 622 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $262,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SHOP. JMP Securities restated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Wells Fargo & Company boosted their target price on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Scotiabank boosted their target price on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. ATB Capital boosted their target price on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Finally, Piper Sandler boosted their target price on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

NYSE SHOP opened at $100.00 on Monday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market capitalization of $129.48 billion, a PE ratio of 64.52, a P/E/G ratio of 4.82 and a beta of 2.60. The company has a fifty day moving average of $112.26 and a two-hundred day moving average of $98.11.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. On average, research analysts expect that Shopify Inc. will post 1.12 earnings per share 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.