B. Riley Wealth Management Inc. purchased a new stake in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,425 shares of the software maker’s stock, valued at approximately $399,000.
Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP increased its position in Shopify by 20.0% during the second quarter. First Trust Advisors LP now owns 3,592 shares of the software maker’s stock worth $524,000 after purchasing an additional 599 shares during the last quarter. Sei Investments Co. increased its position in Shopify by 7,740.7% during the second quarter. Sei Investments Co. now owns 7,135 shares of the software maker’s stock worth $1,041,000 after purchasing an additional 7,044 shares during the last quarter. US Bancorp DE increased its position in Shopify by 327.3% during the second quarter. US Bancorp DE now owns 11,854 shares of the software maker’s stock worth $1,730,000 after purchasing an additional 9,080 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Shopify during the second quarter worth about $203,000. Finally, BlackRock Inc. increased its position in shares of Shopify by 95.7% during the second quarter. BlackRock Inc. now owns 176,537 shares of the software maker’s stock valued at $25,755,000 after acquiring an additional 86,351 shares during the last quarter. Institutional investors and hedge funds own 62.19% of the company’s stock.
Several research analysts have recently commented on the stock. DA Davidson raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Friday, December 21st. Macquarie set a $185.00 price target on shares of Shopify and gave the stock a “buy” rating in a research note on Friday, October 26th. Zacks Investment Research downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Wells Fargo & Co started coverage on shares of Shopify in a research note on Tuesday, December 18th. They issued an “outperform” rating and a $175.00 price target for the company. Finally, Rosenblatt Securities set a $190.00 price target on shares of Shopify and gave the stock a “buy” rating in a research note on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $166.41.
Shares of Shopify stock traded up $1.16 on Friday, hitting $149.43. The company’s stock had a trading volume of 685,277 shares, compared to its average volume of 1,171,590. Shopify Inc has a 52-week low of $111.09 and a 52-week high of $176.60. The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $14.87 billion, a PE ratio of -355.79 and a beta of 1.42.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Thursday, October 25th. The software maker reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.30) by $0.34. The business had revenue of $270.06 million for the quarter, compared to analyst estimates of $257.17 million. Shopify had a negative net margin of 6.93% and a negative return on equity of 4.26%. On average, research analysts expect that Shopify Inc will post -0.63 EPS for the current fiscal year.
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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.
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