Venturi Wealth Management LLC Grows Position in Shopify Inc. (NYSE:SHOP)

Venturi Wealth Management LLC raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 37.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,892 shares of the software maker’s stock after buying an additional 4,562 shares during the quarter. Venturi Wealth Management LLC’s holdings in Shopify were worth $1,796,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SHOP. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Shopify by 1.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,079 shares of the software maker’s stock valued at $1,289,000 after buying an additional 194 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Shopify by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 5,468 shares of the software maker’s stock valued at $438,000 after purchasing an additional 2,680 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Shopify by 14.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 189,827 shares of the software maker’s stock valued at $15,213,000 after purchasing an additional 24,472 shares during the last quarter. Wealth Effects LLC bought a new stake in shares of Shopify in the 3rd quarter valued at approximately $206,000. Finally, Toth Financial Advisory Corp lifted its stake in shares of Shopify by 375.6% in the 3rd quarter. Toth Financial Advisory Corp now owns 6,135 shares of the software maker’s stock valued at $492,000 after purchasing an additional 4,845 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.7 %

Shopify stock opened at $129.20 on Wednesday. The stock has a 50-day moving average of $112.16 and a two-hundred day moving average of $93.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The stock has a market cap of $166.94 billion, a PE ratio of 120.75, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, research analysts anticipate that Shopify Inc. will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. ATB Capital raised their price objective on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Truist Financial raised their price objective on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a research note on Wednesday, February 12th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Mizuho raised their price target on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $126.31.

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.