Global Wealth Management Investment Advisory Inc. Grows Position in Shopify Inc. (NYSE:SHOP)

Global Wealth Management Investment Advisory Inc. lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,727 shares of the software maker’s stock after buying an additional 854 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Shopify were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. SJS Investment Consulting Inc. grew its holdings 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 purchasing an additional 130 shares during the period. Baldwin Brothers LLC MA grew its stake in shares of Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after buying an additional 147 shares during the period. Global Trust Asset Management LLC increased its holdings 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 during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Shopify during the 3rd quarter valued at approximately $47,000. Finally, Salem Investment Counselors Inc. raised its position in shares of Shopify by 1,112.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after buying an additional 556 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 1.1 %

Shopify stock traded down $0.78 during midday trading on Wednesday, reaching $69.42. The company’s stock had a trading volume of 3,635,158 shares, compared to its average volume of 9,263,550. The business has a 50-day simple moving average of $74.93 and a 200-day simple moving average of $73.02. The company has a market cap of $89.31 billion, a P/E ratio of 770.97 and a beta of 2.22. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. 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 announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. On average, research analysts expect that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group raised their target price on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price objective on shares of Shopify in a report on Wednesday, February 14th. Roth Capital increased their target price on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Loop Capital dropped their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Finally, Jefferies Financial Group upped their price objective on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $78.62.

About Shopify

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.