Laidlaw Wealth Management LLC Takes Position in Shopify Inc. (NYSE:SHOP)

Laidlaw Wealth Management LLC bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,129 shares of the software maker’s stock, valued at approximately $439,000.

Several other hedge funds have also made changes to their positions in SHOP. Brooklyn Investment Group acquired a new position in Shopify in the 3rd quarter valued at about $33,000. Rosenberg Matthew Hamilton increased its holdings in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the fourth quarter worth approximately $39,000. Mather Group LLC. grew its position in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in Shopify in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 0.7 %

SHOP stock opened at $129.20 on Wednesday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock’s fifty day simple moving average is $112.48 and its 200-day simple moving average is $94.23. The stock has a market capitalization of $166.94 billion, a price-to-earnings ratio of 83.35, a price-to-earnings-growth ratio of 5.06 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, analysts anticipate that Shopify Inc. will post 1.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $120.00 target price on shares of Shopify in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Citigroup increased their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lifted their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

About Shopify

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.