Wedmont Private Capital Takes Position in Shopify Inc. (NYSE:SHOP)

Wedmont Private Capital acquired a new position in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,116 shares of the software maker’s stock, valued at approximately $320,000.

Several other institutional investors have also recently bought and sold shares of SHOP. PCA Investment Advisory Services Inc. bought a new position in Shopify in the 2nd quarter worth approximately $27,000. OLD Point Trust & Financial Services N A bought a new position in Shopify in the 2nd quarter worth approximately $32,000. Activest Wealth Management bought a new position in Shopify in the 3rd quarter worth approximately $33,000. Baldwin Brothers LLC MA raised its position in Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after purchasing an additional 147 shares during the last quarter. Finally, Vestor Capital LLC bought a new position in Shopify in the 2nd quarter worth approximately $35,000. Institutional investors own 60.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Mizuho boosted their price objective on shares of Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Roth Capital upped their target price on shares of Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Jefferies Financial Group upped their target price on shares of Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, January 5th. Piper Sandler upped their target price on shares of Shopify from $56.00 to $63.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Finally, Atb Cap Markets cut shares of Shopify from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, December 6th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.42.

Check Out Our Latest Stock Analysis on SHOP

Shopify Price Performance

Shares of NYSE SHOP opened at $77.53 on Wednesday. The stock has a market capitalization of $99.75 billion, a price-to-earnings ratio of 861.54 and a beta of 2.22. The business has a 50-day moving average of $79.56 and a 200-day moving average of $69.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. Shopify Inc. has a fifty-two week low of $42.78 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, sell-side analysts predict that Shopify Inc. will post 0.57 earnings per share for the current fiscal year.

Shopify Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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