Blodgett Wealth Advisors LLC Buys New Shares in Shopify Inc. (NYSE:SHOP)

Blodgett Wealth Advisors LLC bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,125 shares of the software maker’s stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SHOP. Wealth Management Partners LLC boosted its position in Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after purchasing an additional 126 shares during the period. SJS Investment Consulting Inc. boosted 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 purchasing an additional 130 shares during the period. Pachira Investments Inc. boosted its position in Shopify by 2.1% during the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after purchasing an additional 146 shares during the period. Baldwin Brothers LLC MA boosted its position in Shopify by 49.0% during 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 period. Finally, Capital Advisors Inc. OK boosted its position in Shopify by 1.7% during the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock worth $723,000 after purchasing an additional 153 shares during the period. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

SHOP has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. ATB Capital boosted their price target on Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. Citigroup dropped their price target on Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Wedbush reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Shopify in a research note on Tuesday, February 13th. Finally, Truist Financial boosted their price target on Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, February 12th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Shopify has a consensus rating of “Hold” and an average target price of $78.30.

Shopify Trading Up 1.1 %

SHOP stock traded up $0.75 during trading on Friday, hitting $71.30. The company had a trading volume of 4,608,453 shares, compared to its average volume of 9,337,968. The business has a 50-day moving average of $75.28 and a 200-day moving average of $72.50. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The stock has a market cap of $91.73 billion, a PE ratio of 792.31 and a beta of 2.22. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion for 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%. Research analysts predict that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

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.