Thrivent Financial for Lutherans Acquires 131,699 Shares of Shopify Inc. (NYSE:SHOP)

Thrivent Financial for Lutherans grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 149.0% during the 4th quarter, HoldingsChannel reports. The firm owned 220,108 shares of the software maker’s stock after purchasing an additional 131,699 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Shopify were worth $23,182,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. PFG Private Wealth Management LLC grew its position in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter valued at approximately $33,000. New Wave Wealth Advisors LLC acquired a new position in Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. lifted its stake 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 purchasing an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Shopify in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SHOP. Wedbush reiterated an “outperform” rating and issued a $125.00 price target on shares of Shopify in a research note on Tuesday, February 11th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Morgan Stanley upped their price objective on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Scotiabank lifted their target price on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Finally, ATB Capital upped their price target on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Up 0.3 %

Shopify stock opened at $101.84 on Friday. The firm has a market capitalization of $131.86 billion, a price-to-earnings ratio of 65.70, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The firm’s fifty day moving average price is $110.03 and its two-hundred day moving average price is $99.12. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. On average, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.