Barlow Wealth Partners Inc. Acquires New Holdings in Shopify Inc. (NYSE:SHOP)

Barlow Wealth Partners Inc. bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,625 shares of the software maker’s stock, valued at approximately $672,000.

Several other large investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its position in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares in the last quarter. Baldwin Brothers LLC MA increased its position in shares of Shopify by 49.0% in the fourth 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 last quarter. Global Trust Asset Management LLC raised its stake in Shopify by 350.0% in the fourth 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. Salem Investment Counselors Inc. lifted its position in Shopify by 1,112.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after purchasing an additional 556 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new position in Shopify in the 4th quarter worth approximately $51,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

Shares of NYSE:SHOP traded down $14.24 during trading on Wednesday, hitting $62.81. The stock had a trading volume of 58,261,614 shares, compared to its average volume of 9,837,176. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $74.74 and a two-hundred day simple moving average of $73.78. The stock has a market capitalization of $80.81 billion, a price-to-earnings ratio of 689.30 and a beta of 2.20. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly 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 firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, equities research analysts expect that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley raised shares of Shopify from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $74.00 to $85.00 in a report on Friday, April 19th. UBS Group boosted their price objective on Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Loop Capital lowered their price objective on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. ATB Capital lifted their price target on shares of Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Finally, Citigroup raised shares of Shopify from a “neutral” rating to a “buy” rating and increased their price target for the stock from $93.00 to $105.00 in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $79.00.

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.