Alpha Cubed Investments LLC Buys 10,278 Shares of Shopify Inc. (NYSE:SHOP)

Alpha Cubed Investments LLC raised its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 136,672 shares of the software maker’s stock after purchasing an additional 10,278 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Shopify were worth $10,647,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Wealth Management Partners LLC increased its stake in shares of Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after buying an additional 126 shares during the period. SJS Investment Consulting Inc. grew its stake 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 purchasing an additional 130 shares during the period. Pachira Investments Inc. grew its stake in Shopify by 2.1% in the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after purchasing an additional 146 shares during the period. Baldwin Brothers LLC MA grew 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 worth $35,000 after acquiring an additional 147 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its stake in shares of Shopify by 1.7% in the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock worth $723,000 after acquiring an additional 153 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Down 3.2 %

Shares of Shopify stock traded down $2.30 on Tuesday, reaching $70.19. The company had a trading volume of 8,240,011 shares, compared to its average volume of 9,333,998. The firm has a market cap of $90.30 billion, a price-to-earnings ratio of 789.75 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The firm’s 50-day moving average price is $75.10 and its two-hundred day moving average price is $72.89. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. As a group, research analysts predict that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SHOP shares. Mizuho increased their target price on Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. UBS Group increased their target price on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. ATB Capital increased their target price on Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Loop Capital lowered their price target on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Finally, Robert W. Baird upped their price target on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Shopify has a consensus rating of “Hold” and a consensus target price of $78.62.

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.