Family Management Corp Has $255,000 Position in Shopify Inc. (NYSE:SHOP)

by · The Cerbat Gem

Family Management Corp cut its holdings in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,398 shares of the software maker’s stock after selling 253 shares during the period. Family Management Corp’s holdings in Shopify were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SHOP. Allianz SE bought a new stake in shares of Shopify in the fourth quarter worth $27,000. PFG Private Wealth Management LLC lifted its holdings in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $39,000. Finally, Mather Group LLC. increased its stake in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 0.7 %

NYSE SHOP opened at $94.50 on Thursday. The company has a market capitalization of $122.36 billion, a price-to-earnings ratio of 60.97, a PEG ratio of 4.82 and a beta of 2.66. The stock’s 50-day simple moving average is $93.73 and its two-hundred day simple moving average is $102.58. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $110.00 target price on shares of Shopify in a report on Tuesday, April 15th. Cantor Fitzgerald decreased their price objective on shares of Shopify from $120.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Canaccord Genuity Group boosted their target price on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. KeyCorp decreased their price target on Shopify from $140.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, CIBC boosted their price objective on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $116.00.

View Our Latest Analysis on Shopify

About Shopify

(Free Report)

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.

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