Focus Partners Wealth Has $28.61 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Focus Partners Wealth boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 55.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 268,814 shares of the software maker’s stock after purchasing an additional 96,033 shares during the period. Focus Partners Wealth’s holdings in Shopify were worth $28,610,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new position in Shopify during the fourth quarter valued at approximately $132,323,000. Western Financial Corp CA acquired a new position in Shopify during the fourth quarter valued at approximately $239,000. Kessler Investment Group LLC acquired a new position in Shopify during the fourth quarter valued at approximately $6,105,000. Whalen Wealth Management Inc. acquired a new position in Shopify during the fourth quarter valued at approximately $461,000. Finally, First National Corp MA ADV acquired a new position in Shopify during the fourth quarter valued at approximately $237,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on SHOP shares. BNP Paribas Exane cut Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald cut their price objective on Shopify from $120.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. National Bankshares cut their price objective on Shopify from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, Wells Fargo & Company raised their price objective on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.37.

Shopify Price Performance

Shopify stock opened at $91.77 on Monday. The stock’s fifty day moving average price is $93.29 and its two-hundred day moving average price is $103.05. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The firm has a market cap of $118.83 billion, a PE ratio of 59.21, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Sell-side analysts expect that Shopify Inc. will post 1.12 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.