Hartline Investment Corp Takes $434,000 Position in Shopify Inc. (NYSE:SHOP)

Hartline Investment Corp purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,567 shares of the software maker’s stock, valued at approximately $434,000.

Several other hedge funds have also recently bought and sold shares of SHOP. SJS Investment Consulting Inc. raised its position in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares in the last quarter. Baldwin Brothers LLC MA grew its stake in shares of Shopify by 49.0% in the 4th 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 in the last quarter. Global Trust Asset Management LLC grew its holdings in shares of Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after purchasing an additional 350 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Shopify during the third quarter worth $47,000. Finally, Salem Investment Counselors Inc. boosted its holdings in Shopify by 1,112.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after acquiring an additional 556 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock traded down $1.74 during trading on Wednesday, reaching $72.27. The company’s stock had a trading volume of 6,081,355 shares, compared to its average volume of 9,430,177. The company has a market capitalization of $92.98 billion, a P/E ratio of 822.54 and a beta of 2.22. The company’s fifty day moving average is $75.91 and its 200-day moving average is $72.39. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, research analysts expect that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SHOP shares. Morgan Stanley raised Shopify from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $85.00 in a research report on Friday, April 19th. National Bankshares raised their price target on Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Piper Sandler reaffirmed an “underweight” rating and set a $63.00 price target on shares of Shopify in a research report on Thursday, April 11th. Roth Capital increased their price objective on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, CIBC increased their price objective on Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.30.

About Shopify

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.