Mindset Wealth Management LLC Has $319,000 Holdings in Shopify Inc. (NYSE:SHOP)

Mindset Wealth Management LLC increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,000 shares of the software maker’s stock after buying an additional 500 shares during the quarter. Mindset Wealth Management LLC’s holdings in Shopify were worth $319,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the 4th quarter valued at approximately $39,000. Mather Group LLC. boosted its holdings in shares of 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. Brooklyn Investment Group acquired a new stake in shares of Shopify in the 3rd quarter valued at approximately $33,000. Finally, Sierra Ocean LLC acquired a new stake in Shopify during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $101.84 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The business’s 50 day moving average price is $110.03 and its two-hundred day moving average price is $99.12. The firm has a market cap of $131.86 billion, a PE ratio of 65.70, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results 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 net margin of 22.74% and a return on equity of 12.00%. Research analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on SHOP. Scotiabank raised their price target on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Robert W. Baird raised their price target on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Piper Sandler raised their price target on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Barclays raised their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

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.