Flputnam Investment Management Co. Acquires New Position in Shopify Inc. (NYSE:SHOP)

Flputnam Investment Management Co. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,857 shares of the software maker’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its stake in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new stake in shares of Shopify during the 2nd quarter worth $27,000. Baldwin Brothers LLC MA grew its stake in shares of Shopify by 49.0% during 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 period. Global Trust Asset Management LLC increased its holdings in shares of Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after purchasing an additional 350 shares in the last quarter. Finally, Vestor Capital LLC purchased a new position in shares of Shopify in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SHOP shares. DA Davidson upped their target price on shares of Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Wedbush reaffirmed a “neutral” rating and set a $68.00 price objective on shares of Shopify in a report on Tuesday, February 13th. Roth Capital upped their target price on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Truist Financial lifted their price target on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $78.00.

Shopify Price Performance

SHOP stock opened at $69.51 on Friday. The company has a market cap of $89.43 billion, a PE ratio of 772.42 and a beta of 2.22. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $76.77 and a two-hundred day moving average price of $71.73. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. As a group, research analysts predict that Shopify Inc. will post 0.58 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.