Cerity Partners LLC Buys 22,689 Shares of Shopify Inc. (NYSE:SHOP)

Cerity Partners LLC raised its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 99.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,582 shares of the software maker’s stock after purchasing an additional 22,689 shares during the period. Cerity Partners LLC’s holdings in Shopify were worth $3,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. increased its position in shares of 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 acquiring an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new stake in shares of Shopify during the second quarter worth about $27,000. Baldwin Brothers LLC MA increased its position in shares of 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 acquiring an additional 147 shares in the last quarter. Global Trust Asset Management LLC increased its position in shares of Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after acquiring an additional 350 shares in the last quarter. Finally, Vestor Capital LLC bought a new stake in shares of Shopify during the second quarter worth about $35,000. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SHOP shares. ATB Capital boosted their target price on shares of Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Jefferies Financial Group upped their price objective on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, January 5th. Roth Capital upped their price objective on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Shopify in a research report on Wednesday, February 14th. Finally, Barclays reduced their price objective on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.00.

Shopify Stock Up 1.1 %

Shares of Shopify stock opened at $69.43 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The stock has a market capitalization of $89.33 billion, a PE ratio of 771.53 and a beta of 2.22. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a 50-day simple moving average of $77.14 and a two-hundred day simple moving average of $71.75.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. On average, analysts anticipate that Shopify Inc. will post 0.58 EPS for the current fiscal year.

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.