Resonant Capital Advisors LLC Invests $219,000 in Shopify Inc (NYSE:SHOP)

Resonant Capital Advisors LLC bought a new stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 550 shares of the software maker’s stock, valued at approximately $219,000.

Several other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP lifted its stake in Shopify by 15.6% in the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock valued at $723,000 after buying an additional 472 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co purchased a new stake in Shopify in the 3rd quarter valued at $7,785,000. High Falls Advisors Inc raised its position in Shopify by 13.3% in the 3rd quarter. High Falls Advisors Inc now owns 3,400 shares of the software maker’s stock valued at $1,060,000 after purchasing an additional 400 shares during the last quarter. Highland Capital Management LLC purchased a new stake in Shopify in the 3rd quarter valued at $254,000. Finally, Global Retirement Partners LLC boosted its stake in Shopify by 3,078.6% during the 3rd quarter. Global Retirement Partners LLC now owns 445 shares of the software maker’s stock worth $139,000 after purchasing an additional 431 shares during the period. 61.29% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:SHOP traded up $0.81 during trading on Thursday, reaching $447.41. The stock had a trading volume of 3,093,742 shares, compared to its average volume of 2,654,553. The stock has a market cap of $49.60 billion, a P/E ratio of -403.07 and a beta of 1.13. The business has a fifty day moving average price of $458.03 and a 200-day moving average price of $386.09. Shopify Inc has a fifty-two week low of $190.38 and a fifty-two week high of $593.89.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, February 12th. The software maker reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.29. The firm had revenue of $505.16 million during the quarter, compared to analysts’ expectations of $482.26 million. Shopify had a negative net margin of 7.91% and a negative return on equity of 2.69%. Equities analysts anticipate that Shopify Inc will post -2.12 earnings per share for the current fiscal year.

A number of research analysts have commented on SHOP shares. Rosenblatt Securities restated a “buy” rating and issued a $630.00 price objective (up from $481.00) on shares of Shopify in a research note on Thursday, February 13th. Raymond James reissued an “outperform” rating and set a $600.00 price target (up previously from $365.00) on shares of Shopify in a report on Wednesday, February 12th. Roth Capital boosted their price target on Shopify from to in a research report on Thursday, February 13th. Wedbush upped their price objective on Shopify from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. They noted that the move was a valuation call. Finally, Robert W. Baird increased their price objective on Shopify from $465.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $465.11.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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