MIG Capital LLC Invests $333,000 in Shopify Inc. (NYSE:SHOP)

MIG Capital LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,130 shares of the software maker’s stock, valued at approximately $333,000.

Other institutional investors have also bought and sold shares of the company. Tidemark LLC boosted its holdings in Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after acquiring an additional 90 shares during the last quarter. Howland Capital Management LLC lifted its position in shares of Shopify by 2.0% during the fourth 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 in the last quarter. Trust Co. of Vermont boosted its holdings in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares during the last quarter. First United Bank & Trust grew its position in Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its stake in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SHOP shares. New Street Research began coverage on Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. CIBC upped their price objective on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. Scotiabank boosted their target price on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 6.6 %

SHOP opened at $76.89 on Friday. The business’s fifty day simple moving average is $108.67 and its 200 day simple moving average is $101.41. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market cap of $99.56 billion, a PE ratio of 49.61, a P/E/G ratio of 4.82 and a beta of 2.81.

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