Marcum Wealth LLC Has $765,000 Stake in Shopify Inc. (NYSE:SHOP)

Marcum Wealth LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,912 shares of the software maker’s stock after acquiring an additional 306 shares during the period. Marcum Wealth LLC’s holdings in Shopify were worth $765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Management Partners LLC raised its position in shares of Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after buying an additional 126 shares during the last quarter. SJS Investment Consulting Inc. raised its position in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares during the last quarter. Tradition Wealth Management LLC raised its position in shares of Shopify by 7.5% during the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock valued at $156,000 after buying an additional 140 shares during the last quarter. Pachira Investments Inc. raised its position in shares of Shopify by 2.1% during the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after buying an additional 146 shares during the last quarter. Finally, Baldwin Brothers LLC MA raised its position in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP opened at $65.04 on Friday. The company has a fifty day moving average price of $64.57 and a two-hundred day moving average price of $73.25. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. On average, sell-side analysts forecast that Shopify Inc. will post 0.61 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SHOP. Robert W. Baird cut their price objective on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Barclays lowered their target price on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Morgan Stanley raised shares of Shopify from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $74.00 to $85.00 in a research note on Friday, April 19th. Citigroup lowered their target price on shares of Shopify from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Mizuho lowered their target price on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.39.

Shopify 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.