Captrust Financial Advisors Buys 1,568 Shares of Shopify Inc. (NYSE:SHOP)

Captrust Financial Advisors increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,660 shares of the software maker’s stock after acquiring an additional 1,568 shares during the quarter. Captrust Financial Advisors’ holdings in Shopify were worth $3,260,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SHOP. Cary Street Partners Financial LLC bought a new position in Shopify in the 4th quarter valued at $4,531,000. Castlekeep Investment Advisors LLC bought a new stake in Shopify during the fourth quarter valued at $1,323,000. Banque Transatlantique SA purchased a new position in Shopify during the fourth quarter worth about $444,000. Benchstone Capital Management LP purchased a new stake in shares of Shopify in the 4th quarter valued at about $24,844,000. Finally, BNP Paribas raised its holdings in shares of Shopify by 297.4% in the 4th quarter. BNP Paribas now owns 9,076 shares of the software maker’s stock valued at $965,000 after acquiring an additional 6,792 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP opened at $91.77 on Friday. The business has a fifty day moving average price of $93.29 and a 200-day moving average price of $102.89. The company has a market capitalization of $118.83 billion, a PE ratio of 59.21, a PEG ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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%. On average, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Benchmark lowered their target price on shares of Shopify from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Citigroup upped their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group reduced their target price on Shopify from $130.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. ATB Capital upped their price objective on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Finally, Piper Sandler raised their price objective on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.37.

Shopify 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.