Valeo Financial Advisors LLC Purchases 2,788 Shares of Shopify Inc. (NYSE:SHOP)

Valeo Financial Advisors LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,077 shares of the software maker’s stock after buying an additional 2,788 shares during the period. Valeo Financial Advisors LLC’s holdings in Shopify were worth $2,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new position in Shopify in the third quarter worth $33,000. Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the 4th quarter worth about $39,000. Mather Group LLC. increased its position 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 during the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify during the 3rd quarter valued at about $45,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on SHOP. Wells Fargo & Company increased their price target on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. DA Davidson raised their price objective on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. JMP Securities restated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Finally, Royal Bank of Canada lifted their price target on Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.21.

Shopify Stock Up 0.6 %

Shares of Shopify stock opened at $128.36 on Friday. The company has a 50-day simple moving average of $111.90 and a two-hundred day simple moving average of $92.75. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $128.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a market capitalization of $165.85 billion, a PE ratio of 119.96, 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 data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, analysts anticipate that Shopify Inc. will post 0.91 EPS for the current fiscal 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.