Diligent Investors LLC Has $260,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Diligent Investors LLC cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 29.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 230 shares of the software maker’s stock after selling 94 shares during the period. Diligent Investors LLC’s holdings in Shopify were worth $260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in Shopify in the 4th quarter valued at $31,000. Moser Wealth Advisors LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at about $37,000. Kistler Tiffany Companies LLC increased its position in shares of Shopify by 175.0% in the fourth quarter. Kistler Tiffany Companies LLC now owns 33 shares of the software maker’s stock valued at $37,000 after acquiring an additional 21 shares during the last quarter. Arkadios Wealth Advisors increased its position in shares of Shopify by 117.6% in the third quarter. Arkadios Wealth Advisors now owns 37 shares of the software maker’s stock valued at $39,000 after acquiring an additional 20 shares during the last quarter. Finally, Arlington Partners LLC acquired a new stake in shares of Shopify in the fourth quarter valued at about $40,000. 56.89% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the company. Canaccord Genuity lifted their target price on Shopify from $1,000.00 to $1,350.00 and gave the company a “hold” rating in a research report on Thursday, February 18th. They noted that the move was a valuation call. Rosenblatt Securities lifted their target price on Shopify from $1,400.00 to $1,900.00 and gave the company a “buy” rating in a research report on Thursday, February 18th. The Goldman Sachs Group lifted their target price on Shopify from $1,323.00 to $1,680.00 and gave the company a “buy” rating in a research report on Thursday, February 18th. Cleveland Research assumed coverage on Shopify in a research report on Friday, December 4th. They issued a “buy” rating and a $1,206.00 target price on the stock. Finally, Mizuho lifted their target price on Shopify from $1,050.00 to $1,300.00 and gave the company a “neutral” rating in a research report on Friday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $1,288.67.

Shares of NYSE:SHOP opened at $1,381.30 on Tuesday. The company has a fifty day moving average of $1,250.18 and a 200-day moving average of $1,083.99. The company has a market capitalization of $168.40 billion, a PE ratio of 879.81, a price-to-earnings-growth ratio of 37.63 and a beta of 1.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 17.87 and a current ratio of 17.87. Shopify Inc. has a 52-week low of $305.30 and a 52-week high of $1,499.75.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, February 17th. The software maker reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $1.02. The company had revenue of $977.74 million during the quarter, compared to the consensus estimate of $906.82 million. Shopify had a net margin of 7.99% and a return on equity of 2.35%. On average, equities analysts forecast that Shopify Inc. will post 1.49 EPS for the current fiscal year.

Shopify Profile

Shopify Inc, a commerce company, provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, 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, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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