Hartline Investment Corp Raises Stock Position in Shopify Inc. $SHOP

Hartline Investment Corp boosted its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 27.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,701 shares of the software maker’s stock after purchasing an additional 6,950 shares during the period. Hartline Investment Corp’s holdings in Shopify were worth $5,264,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SHOP. Coldstream Capital Management Inc. raised its stake in shares of Shopify by 174.1% in the 4th quarter. Coldstream Capital Management Inc. now owns 12,834 shares of the software maker’s stock valued at $2,066,000 after acquiring an additional 8,152 shares during the period. Life Cycle Investment Partners Ltd purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $52,015,000. St. Louis Trust Co purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $1,162,000. Buckhead Capital Management LLC raised its stake in shares of Shopify by 22.1% in the 4th quarter. Buckhead Capital Management LLC now owns 4,150 shares of the software maker’s stock valued at $668,000 after acquiring an additional 750 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Shopify by 23.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,617 shares of the software maker’s stock valued at $904,000 after acquiring an additional 1,072 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Down 1.8%

Shares of NASDAQ:SHOP opened at $103.00 on Friday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The company’s 50 day moving average is $116.29 and its two-hundred day moving average is $135.86. The company has a market cap of $133.66 billion, a PE ratio of 101.98, a P/E/G ratio of 2.89 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. As a group, equities research analysts expect that Shopify Inc. will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SHOP. Weiss Ratings downgraded shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. KeyCorp reissued an “overweight” rating and issued a $160.00 price target on shares of Shopify in a research note on Wednesday, February 11th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 target price on shares of Shopify in a research note on Tuesday, May 5th. Finally, Arete Research set a $175.00 target price on shares of Shopify in a research note on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $158.42.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.