HighPoint Advisor Group LLC Acquires 686 Shares of Shopify Inc. (NYSE:SHOP)

HighPoint Advisor Group LLC increased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.7% during the fourth quarter, HoldingsChannel reports. The fund owned 26,567 shares of the software maker’s stock after acquiring an additional 686 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Shopify were worth $2,825,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SHOP. Bamco Inc. NY boosted its position in shares of Shopify by 4.7% during the third quarter. Bamco Inc. NY now owns 2,720,481 shares of the software maker’s stock valued at $218,019,000 after buying an additional 121,562 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Shopify by 24,244.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 45,524 shares of the software maker’s stock worth $3,648,000 after acquiring an additional 45,337 shares during the last quarter. Hilltop Holdings Inc. grew its position in Shopify by 72.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,355 shares of the software maker’s stock worth $990,000 after purchasing an additional 5,185 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Shopify by 2.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 32,078 shares of the software maker’s stock valued at $2,571,000 after buying an additional 655 shares during the last quarter. Finally, Insight Holdings Group LLC lifted its position in shares of Shopify by 109.5% during the 3rd quarter. Insight Holdings Group LLC now owns 55,100 shares of the software maker’s stock worth $4,416,000 after buying an additional 28,800 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and set a $125.00 price target on shares of Shopify in a report on Tuesday, February 11th. Barclays lifted their target price on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Finally, CIBC increased their target price on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

Shares of NYSE:SHOP opened at $95.48 on Tuesday. The company’s fifty day moving average price is $110.06 and its 200-day moving average price is $101.15. The firm has a market capitalization of $123.63 billion, a price-to-earnings ratio of 61.60, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

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.