Wealthcare Advisory Partners LLC Acquires 341 Shares of Shopify Inc. (NYSE:SHOP)

Wealthcare Advisory Partners LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,121 shares of the software maker’s stock after purchasing an additional 341 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Shopify were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its stake in shares of Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after buying an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Shopify by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock worth $2,233,344,000 after buying an additional 634,883 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Shopify by 6.5% during the 3rd quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock worth $339,750,000 after buying an additional 377,901 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Shopify by 78.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after buying an additional 2,113,773 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Shopify by 7.7% during the 4th quarter. Mackenzie Financial Corp now owns 4,334,722 shares of the software maker’s stock worth $337,640,000 after buying an additional 309,540 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE SHOP opened at $62.47 on Friday. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a 50-day simple moving average of $74.48 and a 200 day simple moving average of $73.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The company has a market capitalization of $80.37 billion, a PE ratio of 694.11 and a beta of 2.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, research analysts predict that Shopify Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. DA Davidson cut their target price on shares of Shopify from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial lifted their price objective on shares of Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. National Bankshares lifted their price objective on shares of Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Finally, Scotiabank dropped their price objective on shares of Shopify from $80.00 to $75.00 and set a “sector perform” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Shopify has an average rating of “Hold” and an average target price of $76.86.

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.