Harrington Investments INC Invests $511,000 in Shopify Inc. (NYSE:SHOP)

Harrington Investments INC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,807 shares of the software maker’s stock, valued at approximately $511,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Howland Capital Management LLC increased its position in shares of Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont lifted its position in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares in the last quarter. First United Bank & Trust grew its holdings in shares of Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after buying an additional 100 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after acquiring an additional 105 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its stake in Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after buying an additional 107 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SHOP shares. Wedbush restated an “outperform” rating and set a $125.00 price target on shares of Shopify in a research note on Tuesday, February 11th. UBS Group boosted their target price on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

Shares of SHOP opened at $94.88 on Friday. The firm’s 50-day simple moving average is $110.88 and its two-hundred day simple moving average is $98.43. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock has a market cap of $122.86 billion, a PE ratio of 61.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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 return on equity of 12.00% and a net margin of 22.74%. Equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

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.