Certuity LLC Boosts Stock Position in Shopify Inc. (NYSE:SHOP)

Certuity LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,062 shares of the software maker’s stock after acquiring an additional 763 shares during the period. Certuity LLC’s holdings in Shopify were worth $1,564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EWA LLC acquired a new stake in shares of Shopify in the 4th quarter worth approximately $278,000. Choreo LLC lifted its stake in shares of Shopify by 9.7% during the 4th quarter. Choreo LLC now owns 10,096 shares of the software maker’s stock worth $786,000 after purchasing an additional 895 shares during the period. Flaharty Asset Management LLC lifted its stake in shares of Shopify by 18.6% during the 4th quarter. Flaharty Asset Management LLC now owns 3,190 shares of the software maker’s stock worth $249,000 after purchasing an additional 500 shares during the period. Once Capital Management LLC purchased a new position in shares of Shopify during the 4th quarter worth $1,948,000. Finally, Valmark Advisers Inc. lifted its stake in shares of Shopify by 12.3% during the 4th quarter. Valmark Advisers Inc. now owns 7,993 shares of the software maker’s stock worth $623,000 after purchasing an additional 874 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 1.9 %

SHOP traded down $1.41 during trading on Tuesday, hitting $71.07. 5,969,281 shares of the company’s stock were exchanged, compared to its average volume of 9,305,517. The business’s 50 day moving average is $75.10 and its two-hundred day moving average is $72.89. The stock has a market cap of $91.44 billion, a P/E ratio of 815.76 and a beta of 2.22. 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 Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 net margin of 1.87% and a return on equity of 4.48%. As a group, equities analysts expect that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several recent research reports. National Bankshares increased their price target on Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Robert W. Baird boosted their price objective on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Truist Financial upped their target price on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, February 12th. Citigroup upgraded Shopify from a “neutral” rating to a “buy” rating and upped their target price for the stock from $93.00 to $105.00 in a research report on Monday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Shopify in a report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Shopify has an average rating of “Hold” and a consensus price target of $78.62.

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.