FormulaFolio Investments LLC Acquires 275 Shares of Shopify Inc. (NYSE:SHOP)

FormulaFolio Investments LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 136.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 477 shares of the software maker’s stock after purchasing an additional 275 shares during the period. FormulaFolio Investments LLC’s holdings in Shopify were worth $540,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new position in shares of Shopify during the 4th quarter worth approximately $31,000. MCF Advisors LLC purchased a new position in shares of Shopify during the 4th quarter worth approximately $34,000. Kistler Tiffany Companies LLC grew its stake in shares of Shopify by 175.0% in the 4th quarter. Kistler Tiffany Companies LLC now owns 33 shares of the software maker’s stock worth $37,000 after buying an additional 21 shares during the last quarter. Arlington Partners LLC purchased a new stake in shares of Shopify in the 4th quarter worth approximately $40,000. Finally, Pacifica Partners Inc. grew its stake in shares of Shopify by 60.0% in the 4th quarter. Pacifica Partners Inc. now owns 40 shares of the software maker’s stock worth $48,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 56.89% of the company’s stock.

Several research firms recently weighed in on SHOP. Evercore ISI began coverage on Shopify in a research note on Monday. They issued an “in-line” rating and a $1,360.00 price target on the stock. They noted that the move was a valuation call. Morgan Stanley upped their price objective on Shopify from $1,100.00 to $1,300.00 and gave the company an “equal weight” rating in a research report on Thursday, February 25th. Oppenheimer upped their price objective on Shopify from $1,300.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. The Goldman Sachs Group upped their price objective on Shopify from $1,323.00 to $1,680.00 and gave the company a “buy” rating in a research report on Thursday, February 25th. Finally, Roth Capital upped their price objective on Shopify from $1,225.00 to $1,325.00 and gave the company a “neutral” rating in a research report on Thursday, February 25th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the company. Shopify currently has an average rating of “Hold” and an average price target of $1,312.09.

Shares of Shopify stock opened at $1,159.47 on Thursday. The firm has a market cap of $142.07 billion, a price-to-earnings ratio of 738.52, a PEG ratio of 37.63 and a beta of 1.60. Shopify Inc. has a twelve month low of $381.31 and a twelve month high of $1,499.75. The company has a quick ratio of 17.87, a current ratio of 17.87 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $1,193.03 and a 200-day moving average price of $1,120.90.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, February 17th. The software maker reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $1.02. The company had revenue of $977.74 million during the quarter, compared to analyst estimates of $906.82 million. Shopify had a return on equity of 2.35% and a net margin of 7.99%. On average, equities analysts expect that Shopify Inc. will post 1.49 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, the United Kingdom, Australia, Latin America, and internationally. The company's platform provides merchants to run their business in 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, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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