Planning Capital Management Corp Has $137,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Planning Capital Management Corp boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 25.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,710 shares of the software maker’s stock after purchasing an additional 348 shares during the quarter. Planning Capital Management Corp’s holdings in Shopify were worth $137,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group increased its position in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. Cultivar Capital Inc. acquired a new position in shares of Shopify during the 2nd quarter worth approximately $33,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify during the 2nd quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Shopify during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SHOP shares. Piper Sandler boosted their price target on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday. Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Roth Mkm lifted their target price on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 target price on shares of Shopify in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Price Performance

NYSE:SHOP opened at $115.13 on Thursday. The firm has a market capitalization of $148.56 billion, a price-to-earnings ratio of 107.60, a P/E/G ratio of 3.64 and a beta of 2.36. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. The stock has a fifty day moving average of $80.36 and a 200 day moving average of $70.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Shopify had a return on equity of 11.94% and a net margin of 16.84%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. On average, research analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal 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.