Apollon Wealth Management LLC Acquires 7,002 Shares of Shopify Inc. (NYSE:SHOP)

Apollon Wealth Management LLC grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,225 shares of the software maker’s stock after acquiring an additional 7,002 shares during the quarter. Apollon Wealth Management LLC’s holdings in Shopify were worth $8,976,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. SJS Investment Consulting Inc. raised its holdings in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares in the last quarter. Baldwin Brothers LLC MA raised its stake in shares of Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares during the last quarter. Global Trust Asset Management LLC raised its stake in shares of Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after acquiring an additional 350 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Shopify in the 3rd quarter worth approximately $47,000. Finally, Salem Investment Counselors Inc. grew its position in Shopify by 1,112.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock worth $47,000 after acquiring an additional 556 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 0.4 %

SHOP traded down $0.31 during trading hours on Tuesday, hitting $77.06. 11,324,931 shares of the company’s stock were exchanged, compared to its average volume of 9,283,911. The stock has a market cap of $99.14 billion, a price-to-earnings ratio of 859.98 and a beta of 2.20. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The stock’s 50-day moving average is $74.73 and its two-hundred day moving average is $73.60. 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 (NYSE:SHOP) (TSE:SHOP) last released its earnings results 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 for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Sell-side analysts predict that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Scotiabank increased their price objective on Shopify from $70.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, May 2nd. Roth Capital lifted their target price on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Loop Capital cut their price target on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Finally, CIBC raised their price target on Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.00.

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.