Apollon Wealth Management LLC Acquires 7,002 Shares of Shopify Inc. (NYSE:SHOP)

Apollon Wealth Management LLC raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.5% in the fourth quarter, HoldingsChannel reports. The firm owned 115,225 shares of the software maker’s stock after acquiring an additional 7,002 shares during the period. Apollon Wealth Management LLC’s holdings in Shopify were worth $8,976,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SHOP. Baillie Gifford & Co. grew its position in Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after purchasing an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. increased its holdings in Shopify by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock worth $2,233,344,000 after buying an additional 634,883 shares during the period. TD Asset Management Inc raised its position in Shopify by 4.4% during the 3rd quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock worth $389,052,000 after buying an additional 299,788 shares during the last quarter. Legal & General Group Plc lifted its position in Shopify by 6.5% during the third quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock valued at $339,750,000 after purchasing an additional 377,901 shares during the period. Finally, Artisan Partners Limited Partnership boosted its holdings in Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after purchasing an additional 2,113,773 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company reduced their price target on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. UBS Group lifted their price target on Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Loop Capital reduced their target price on Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Barclays decreased their target price on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 14th. Finally, The Goldman Sachs Group boosted their price target on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.00.

Shopify Stock Performance

NYSE:SHOP traded down $0.31 during trading hours on Tuesday, reaching $77.06. 11,324,931 shares of the company’s stock were exchanged, compared to its average volume of 9,283,911. The company has a 50-day moving average of $74.73 and a 200 day moving average of $73.60. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The firm has a market capitalization of $99.14 billion, a price-to-earnings ratio of 859.98 and a beta of 2.20. 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 posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Research analysts anticipate that Shopify Inc. will post 0.59 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.