Fountainhead AM LLC Takes $290,000 Position in Shopify Inc. (NYSE:SHOP)

Fountainhead AM LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,720 shares of the software maker’s stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealth Management Partners LLC grew its holdings in Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after acquiring an additional 126 shares during the period. SJS Investment Consulting Inc. grew its holdings in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the last quarter. Pachira Investments Inc. grew its holdings in Shopify by 2.1% in the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after purchasing an additional 146 shares during the last quarter. Baldwin Brothers LLC MA lifted its position in 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 buying an additional 147 shares during the period. Finally, Capital Advisors Inc. OK lifted its position in Shopify by 1.7% during the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock worth $723,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several recent analyst reports. Loop Capital reduced their target price on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Wells Fargo & Company dropped their price target on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Roth Capital upped their price target on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Citigroup dropped their price target on Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Finally, BNP Paribas lowered Shopify from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 18th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.30.

Shopify Stock Performance

Shopify stock traded up $3.47 during mid-day trading on Tuesday, hitting $74.02. 9,507,178 shares of the company’s stock traded hands, compared to its average volume of 9,473,095. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a market cap of $95.23 billion, a PE ratio of 822.54 and a beta of 2.22. The firm has a 50 day moving average price of $75.91 and a 200 day moving average price of $72.39. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

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