Elite Wealth Management Inc. Acquires Shares of 3,065 Shopify Inc. (NYSE:SHOP)

Elite Wealth Management Inc. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,065 shares of the software maker’s stock, valued at approximately $239,000.

Other hedge funds also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its position in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after acquiring an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new position in shares of Shopify during the 2nd quarter worth $27,000. Baldwin Brothers LLC MA grew its position 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 buying an additional 147 shares in the last quarter. Global Trust Asset Management LLC grew its position in shares of Shopify by 350.0% during the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after buying an additional 350 shares in the last quarter. Finally, Vestor Capital LLC bought a new position in shares of Shopify during the 2nd quarter worth $35,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Truist Financial increased their price target on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, February 12th. 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. DA Davidson raised their price objective on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Shopify in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.00.

Shopify Price Performance

Shares of Shopify stock traded up $0.13 on Wednesday, reaching $68.70. The company’s stock had a trading volume of 9,249,204 shares, compared to its average volume of 6,767,313. The company has a market capitalization of $88.39 billion, a P/E ratio of 763.31 and a beta of 2.22. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The stock has a 50-day moving average price of $77.45 and a 200-day moving average price of $71.76. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business 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%. Analysts expect that Shopify Inc. will post 0.58 EPS for the current year.

Shopify Company 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.