Stephens Inc. AR increased its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 17.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,671 shares of the software maker's stock after buying an additional 7,029 shares during the period. Stephens Inc. AR's holdings in Shopify were worth $3,820,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Reston Wealth Management LLC acquired a new position in shares of Shopify in the third quarter worth $128,000. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock worth $36,000 after purchasing an additional 133 shares in the last quarter. US Bancorp DE grew its stake in Shopify by 4.3% during the 3rd quarter. US Bancorp DE now owns 66,992 shares of the software maker's stock worth $5,369,000 after purchasing an additional 2,776 shares in the last quarter. HM Payson & Co. increased its holdings in Shopify by 37.2% during the 3rd quarter. HM Payson & Co. now owns 686 shares of the software maker's stock worth $55,000 after purchasing an additional 186 shares during the period. Finally, Financial Advocates Investment Management boosted its stake in shares of Shopify by 1.7% in the 3rd quarter. Financial Advocates Investment Management now owns 53,226 shares of the software maker's stock valued at $4,266,000 after buying an additional 915 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.
SHOP has been the topic of a number of recent research reports. Scotiabank upped their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 24th. Wolfe Research assumed coverage on shares of Shopify in a research report on Tuesday, July 16th. They issued an "outperform" rating and a $80.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Shopify from $74.00 to $76.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft increased their target price on Shopify from $80.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Finally, Wedbush reaffirmed a "neutral" rating and set a $72.00 price target (up from $68.00) on shares of Shopify in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Shopify has an average rating of "Moderate Buy" and an average price target of $81.03.
Read Our Latest Research Report on SHOP
Shares of NYSE:SHOP opened at $78.99 on Friday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $91.57. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm's 50-day simple moving average is $77.54 and its 200-day simple moving average is $69.39. The company has a market cap of $101.93 billion, a price-to-earnings ratio of 80.60, a PEG ratio of 2.62 and a beta of 2.36.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) EPS. As a group, equities research analysts predict that Shopify Inc. will post 0.76 earnings per share for the current year.
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.
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