Principal Securities Inc. Purchases 2,603 Shares of Shopify Inc. (NYSE:SHOP)

Principal Securities Inc. increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 24.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,399 shares of the software maker’s stock after buying an additional 2,603 shares during the period. Principal Securities Inc.’s holdings in Shopify were worth $1,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Shopify in the 3rd quarter valued at about $33,000. Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. New Wave Wealth Advisors LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. grew its position in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares during the period. Finally, Truvestments Capital LLC bought a new stake in Shopify in the third quarter valued at $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $129.20 on Wednesday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock’s 50-day simple moving average is $112.16 and its 200 day simple moving average is $93.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a market capitalization of $166.94 billion, a price-to-earnings ratio of 120.75, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Research analysts forecast that Shopify Inc. will post 0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of research reports. TD Securities upped their target price on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Mizuho raised their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Wells Fargo & Company upped their target price on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Moffett Nathanson lifted their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Loop Capital raised Shopify from a “hold” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.31.

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.