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

FormulaFolio Investments LLC lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 136.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Several other institutional investors also recently made changes to their positions in SHOP. Independence Bank of Kentucky acquired a new position in shares of Shopify during the 4th quarter worth approximately $31,000. MCF Advisors LLC bought a new stake in shares of Shopify during the 4th quarter valued at $34,000. Kistler Tiffany Companies LLC lifted its position in shares of Shopify by 175.0% during the 4th quarter. Kistler Tiffany Companies LLC now owns 33 shares of the software maker’s stock valued at $37,000 after acquiring an additional 21 shares during the period. Arlington Partners LLC bought a new stake in shares of Shopify during the 4th quarter valued at $40,000. Finally, Pacifica Partners Inc. lifted its position in shares of Shopify by 60.0% during the 4th quarter. Pacifica Partners Inc. now owns 40 shares of the software maker’s stock valued at $48,000 after acquiring an additional 15 shares during the period. Institutional investors own 56.89% of the company’s stock.

Shares of Shopify stock opened at $1,159.47 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 17.87 and a current ratio of 17.87. Shopify Inc. has a 52 week low of $381.31 and a 52 week high of $1,499.75. The stock has a 50 day moving average price of $1,193.03 and a two-hundred day moving average price of $1,120.90. The stock has a market capitalization of $142.07 billion, a PE ratio of 738.52, a price-to-earnings-growth ratio of 37.63 and a beta of 1.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, February 17th. The software maker reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $1.02. Shopify had a return on equity of 2.35% and a net margin of 7.99%. The firm had revenue of $977.74 million during the quarter, compared to analysts’ expectations of $906.82 million. Research analysts forecast that Shopify Inc. will post 1.49 EPS for the current year.

A number of research firms have recently weighed in on SHOP. Roth Capital upped their target price 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. Oppenheimer upped their target price 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. Truist upped their price objective on Shopify from $1,100.00 to $1,475.00 in a research report on Thursday, February 18th. Barclays upped their price objective on Shopify from $1,060.00 to $1,300.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 25th. Finally, Credit Suisse Group restated a “neutral” rating and set a $1,350.00 price objective on shares of Shopify in a research report on Monday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Shopify has an average rating of “Hold” and an average target price of $1,312.09.

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.

Featured Story: How can you know how many shares are floating?

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.