Kovack Advisors Inc. Acquires 39,867 Shares of Shopify Inc. $SHOP

Kovack Advisors Inc. lifted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 311.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,668 shares of the software maker’s stock after buying an additional 39,867 shares during the quarter. Kovack Advisors Inc.’s holdings in Shopify were worth $8,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Kingdom Financial Group LLC. bought a new position in Shopify in the 4th quarter worth approximately $26,000. Curio Wealth LLC bought a new position in shares of Shopify during the fourth quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Shopify during the fourth quarter valued at $29,000. Lloyd Advisory Services LLC. bought a new stake in Shopify in the 4th quarter valued at $31,000. Finally, Lodestone Wealth Management LLC bought a new stake in Shopify in the 4th quarter valued at $31,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock opened at $110.47 on Friday. The stock has a market cap of $143.35 billion, a price-to-earnings ratio of 109.38, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60. The stock has a 50 day moving average price of $114.20 and a 200-day moving average price of $131.77. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. Sell-side analysts predict that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $175.00 price objective on shares of Shopify in a report on Thursday, February 12th. Wells Fargo & Company decreased their target price on Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Canaccord Genuity Group cut their price target on Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Barclays set a $126.00 price objective on Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Mizuho upgraded Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 target price for the company in a research report on Thursday, February 12th. Two research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.17.

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.