Kovack Advisors Inc. Has $1.12 Million Stake in Shopify Inc. (NYSE:SHOP)

Kovack Advisors Inc. increased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,553 shares of the software maker’s stock after buying an additional 1,331 shares during the quarter. Kovack Advisors Inc.’s holdings in Shopify were worth $1,122,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton raised 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 purchasing an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in Shopify in the fourth quarter valued at about $39,000. Mather Group LLC. lifted its position in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Shopify during the third quarter worth about $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the subject of several analyst reports. Barclays boosted their target price on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Robert W. Baird upped their target price on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada raised their target price on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, ATB Capital raised their price objective on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Down 2.2 %

Shares of Shopify stock opened at $110.72 on Friday. The business has a 50-day moving average price of $112.82 and a two-hundred day moving average price of $96.45. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company has a market cap of $143.36 billion, a P/E ratio of 71.43, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal 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.