Financial Advocates Investment Management Boosts Stock Holdings in Shopify Inc. (NYSE:SHOP)

Financial Advocates Investment Management increased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 53,226 shares of the software maker’s stock after purchasing an additional 915 shares during the period. Financial Advocates Investment Management’s holdings in Shopify were worth $4,266,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SHOP. Massmutual Trust Co. FSB ADV boosted its stake in shares of Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after buying an additional 129 shares during the period. CVA Family Office LLC lifted its stake in Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after acquiring an additional 143 shares during the last quarter. Twin Peaks Wealth Advisors LLC grew its holdings in Shopify by 3.5% during the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after acquiring an additional 145 shares in the last quarter. Willis Johnson & Associates Inc. increased its position in shares of Shopify by 5.8% in the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after purchasing an additional 149 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of Shopify by 11.4% during the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shopify stock opened at $80.03 on Thursday. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The business has a fifty day moving average of $77.41 and a two-hundred day moving average of $69.25. The company has a market cap of $103.13 billion, a P/E ratio of -470.76, a price-to-earnings-growth ratio of 2.65 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the company earned ($0.08) earnings per share. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, analysts predict that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft increased their price objective on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price objective on shares of Shopify in a report on Tuesday, September 10th. Evercore ISI increased their price objective on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Morgan Stanley increased their price objective on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.21.

Shopify 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.