HB Wealth Management LLC Buys 1,002 Shares of Shopify Inc. (NYSE:SHOP)

HB Wealth Management LLC raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,517 shares of the software maker’s stock after buying an additional 1,002 shares during the period. HB Wealth Management LLC’s holdings in Shopify were worth $430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Fairfield Bush & CO. bought a new stake in Shopify in the first quarter valued at approximately $169,000. Raymond James Trust N.A. grew its position in shares of Shopify by 26.5% in the first quarter. Raymond James Trust N.A. now owns 754 shares of the software maker’s stock valued at $510,000 after purchasing an additional 158 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Shopify by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker’s stock valued at $20,391,000 after purchasing an additional 592 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Shopify by 13.0% in the first quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker’s stock valued at $3,107,000 after purchasing an additional 527 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Shopify by 89.6% in the first quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker’s stock valued at $295,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock opened at $78.62 on Thursday. 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 business has a 50-day moving average price of $79.36 and a two-hundred day moving average price of $69.98. Shopify Inc. has a 1-year low of $43.50 and a 1-year high of $91.57. The company has a market cap of $101.15 billion, a P/E ratio of 873.65 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS 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 the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, analysts anticipate that Shopify Inc. will post 0.57 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. CIBC upped their target price on Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upped their target price on Shopify from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. National Bankshares increased their price target on Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Barclays reduced their price target on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group increased their price target on Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, January 5th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.42.

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.