Global Retirement Partners LLC Purchases 568 Shares of Shopify Inc. (NYSE:SHOP)

Global Retirement Partners LLC grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,219 shares of the software maker’s stock after buying an additional 568 shares during the period. Global Retirement Partners LLC’s holdings in Shopify were worth $1,193,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SHOP. New Wave Wealth Advisors LLC acquired a new position in Shopify in the fourth quarter valued at about $39,000. Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% during 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 in the last quarter. Brooklyn Investment Group acquired a new position in shares of Shopify in the 3rd quarter valued at approximately $33,000. Sierra Ocean LLC bought a new stake in Shopify during the 4th quarter worth approximately $46,000. Finally, Rosenberg Matthew Hamilton raised its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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 report on Wednesday, February 12th. Oppenheimer upped their target price on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. KeyCorp lifted their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Truist Financial boosted their price target on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, UBS Group increased their price objective on Shopify from $110.00 to $125.00 and gave the stock a “neutral” 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

Shares of Shopify stock opened at $115.40 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market capitalization of $149.10 billion, a price-to-earnings ratio of 74.45, a P/E/G ratio of 4.98 and a beta of 2.47. The business has a fifty day simple moving average of $112.85 and a two-hundred day simple moving average of $95.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.