CHICAGO TRUST Co NA Takes Position in Shopify Inc. $SHOP

CHICAGO TRUST Co NA bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,400 shares of the software maker’s stock, valued at approximately $654,000.

Several other institutional investors have also recently added to or reduced their stakes in SHOP. Brighton Jones LLC lifted its position in Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after acquiring an additional 584 shares during the period. Algert Global LLC purchased a new stake in shares of Shopify during the first quarter worth approximately $251,000. Sax Wealth Advisors LLC raised its stake in shares of Shopify by 53.9% during the first quarter. Sax Wealth Advisors LLC now owns 6,271 shares of the software maker’s stock worth $599,000 after purchasing an additional 2,195 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Shopify by 5.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 179,758 shares of the software maker’s stock worth $17,163,000 after purchasing an additional 9,133 shares during the period. Finally, SVB Wealth LLC grew its position in Shopify by 2.2% in the 1st quarter. SVB Wealth LLC now owns 5,415 shares of the software maker’s stock valued at $517,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHOP. BNP Paribas initiated coverage on shares of Shopify in a research report on Monday, November 24th. They set a “neutral” rating for the company. BMO Capital Markets boosted their price target on shares of Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Wells Fargo & Company restated an “overweight” rating and issued a $198.00 price objective (up previously from $125.00) on shares of Shopify in a research report on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $181.00 price objective (up previously from $156.00) on shares of Shopify in a report on Wednesday, November 5th. Finally, National Bankshares increased their target price on Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Hold” and an average price target of $168.69.

Shopify Price Performance

Shares of SHOP opened at $169.57 on Monday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The stock has a market cap of $220.75 billion, a price-to-earnings ratio of 125.61, a price-to-earnings-growth ratio of 6.30 and a beta of 2.82. The firm has a 50 day simple moving average of $159.88 and a 200-day simple moving average of $142.09.

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