B. Riley Wealth Management Inc. Purchases Shares of 2,425 Shopify Inc (SHOP)

[ad_1]

B. Riley Wealth Management Inc. purchased a new position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,425 shares of the software maker’s stock, valued at approximately $399,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOP. Comerica Bank lifted its holdings in shares of Shopify by 61.5% in the 2nd quarter. Comerica Bank now owns 7,671 shares of the software maker’s stock valued at $1,296,000 after purchasing an additional 2,921 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Shopify by 20.0% in the 2nd quarter. First Trust Advisors LP now owns 3,592 shares of the software maker’s stock valued at $524,000 after purchasing an additional 599 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Shopify by 7,740.7% in the 2nd quarter. Sei Investments Co. now owns 7,135 shares of the software maker’s stock valued at $1,041,000 after purchasing an additional 7,044 shares during the last quarter. First Allied Advisory Services Inc. purchased a new stake in shares of Shopify in the 2nd quarter valued at about $228,000. Finally, US Bancorp DE lifted its holdings in shares of Shopify by 327.3% in the 2nd quarter. US Bancorp DE now owns 11,854 shares of the software maker’s stock valued at $1,730,000 after purchasing an additional 9,080 shares during the last quarter. 62.64% of the stock is owned by institutional investors.

NYSE SHOP opened at $127.71 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.82 and a current ratio of 11.82. Shopify Inc has a 12-month low of $100.40 and a 12-month high of $176.60. The company has a market cap of $14.38 billion, a price-to-earnings ratio of -304.07 and a beta of 1.42.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Thursday, October 25th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.34. Shopify had a negative return on equity of 4.26% and a negative net margin of 6.93%. The company had revenue of $270.06 million for the quarter, compared to analysts’ expectations of $257.17 million. As a group, equities research analysts forecast that Shopify Inc will post -0.63 EPS for the current year.

Several analysts have recently weighed in on SHOP shares. Zacks Investment Research reissued a “buy” rating and issued a $145.00 target price on shares of Shopify in a report on Thursday, November 15th. Rosenblatt Securities started coverage on Shopify in a research report on Tuesday, September 4th. They issued a “buy” rating and a $188.00 price target on the stock. Macquarie set a $185.00 price target on Shopify and gave the company a “buy” rating in a research report on Friday, October 26th. Jefferies Financial Group started coverage on Shopify in a research report on Monday, October 1st. They issued a “hold” rating and a $175.00 price target on the stock. Finally, Wedbush started coverage on Shopify in a research report on Thursday, September 13th. They issued an “outperform” rating and a $177.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $165.41.

WARNING: “B. Riley Wealth Management Inc. Purchases Shares of 2,425 Shopify Inc (SHOP)” was reported by Fairfield Current and is the sole property of of Fairfield Current. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://www.fairfieldcurrent.com/news/2018/12/21/b-riley-wealth-management-inc-purchases-shares-of-2425-shopify-inc-shop.html.

Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

Read More: Balanced Fund

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (NYSE:SHOP) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Shopify and related companies with MarketBeat.com’s FREE daily email newsletter.

[ad_2]

Source link

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *