Flaharty Asset Management LLC Purchases 800 Shares of Shopify Inc. (NYSE:SHOP)

Flaharty Asset Management LLC raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 38.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,890 shares of the software maker’s stock after purchasing an additional 800 shares during the quarter. Flaharty Asset Management LLC’s holdings in Shopify were worth $307,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify during the 4th quarter valued at about $39,000. Mather Group LLC. grew its stake 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 period. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter valued at about $33,000. Sierra Ocean LLC bought a new stake in shares of Shopify during the 4th quarter valued at about $46,000. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHOP has been the topic of a number of analyst reports. Citigroup lifted their price objective on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a research report on Friday, December 6th. DA Davidson lifted their price objective on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, UBS Group lifted their price objective on Shopify from $110.00 to $125.00 and gave the company a “neutral” 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Performance

NYSE SHOP opened at $111.97 on Friday. The company has a market cap of $144.98 billion, a P/E ratio of 72.24, a P/E/G ratio of 4.82 and a beta of 2.47. The business’s 50 day moving average price is $112.88 and its 200-day moving average price is $96.75. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate 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 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.