Shopify Inc. $SHOP Shares Acquired by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 955.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,400 shares of the software maker’s stock after purchasing an additional 11,225 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Shopify were worth $1,843,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new position in shares of Shopify during the 2nd quarter worth $25,000. Financial Gravity Companies Inc. purchased a new stake in shares of Shopify during the second quarter worth $27,000. Rothschild Investment LLC raised its holdings in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Heartwood Wealth Advisors LLC purchased a new position in shares of Shopify in the 3rd quarter valued at about $27,000. Finally, Tradewinds Capital Management LLC raised its stake in Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SHOP. Wells Fargo & Company reiterated an “overweight” rating and set a $198.00 price target (up from $125.00) on shares of Shopify in a research note on Wednesday, December 17th. Oppenheimer reiterated an “outperform” rating on shares of Shopify in a report on Monday, December 1st. National Bankshares upped their price target on shares of Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. BMO Capital Markets upped their target price on Shopify from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $181.00 price target (up previously from $156.00) on shares of Shopify in a research report on Wednesday, November 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.61.

Shopify Stock Down 2.3%

Shares of NASDAQ:SHOP opened at $164.48 on Monday. The company has a market cap of $214.13 billion, a price-to-earnings ratio of 121.84, a PEG ratio of 4.89 and a beta of 2.83. The business has a 50 day moving average price of $160.02 and a 200 day moving average price of $148.14. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.