Marks Group Wealth Management Inc Invests $445,000 in Shopify Inc. (NYSE:SHOP)

Marks Group Wealth Management Inc acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,710 shares of the software maker’s stock, valued at approximately $445,000.

Other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. boosted its position in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares during the last quarter. Baldwin Brothers LLC MA boosted its position in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after buying an additional 147 shares during the last quarter. Global Trust Asset Management LLC lifted its holdings in Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after acquiring an additional 350 shares during the period. Salem Investment Counselors Inc. lifted its holdings in Shopify by 1,112.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after acquiring an additional 556 shares during the period. Finally, Anchor Investment Management LLC bought a new position in Shopify in the fourth quarter valued at about $51,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Up 0.5 %

SHOP opened at $74.41 on Wednesday. The firm has a market cap of $95.73 billion, a price-to-earnings ratio of 822.54 and a beta of 2.22. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The stock has a fifty day moving average price of $75.91 and a 200-day moving average price of $72.39.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate 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 return on equity of 4.48% and a net margin of 1.87%. As a group, equities research analysts anticipate that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on SHOP. Robert W. Baird increased their target price on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group increased their target price on Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. DA Davidson raised their price objective on Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. CIBC raised their price objective on Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Barclays decreased their price objective on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.30.

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.