Highline Wealth Partners LLC Acquires New Shares in Shopify Inc. (NYSE:SHOP)

Highline Wealth Partners LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 875 shares of the software maker’s stock, valued at approximately $70,000.

Other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after acquiring an additional 129 shares during the last quarter. CVA Family Office LLC increased its stake in shares of 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 buying an additional 143 shares during the period. Willis Johnson & Associates Inc. raised its holdings in Shopify by 5.8% during the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after buying an additional 149 shares during the last quarter. Valley National Advisers Inc. boosted its position in Shopify by 11.4% during the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after buying an additional 152 shares during the period. Finally, Wolff Wiese Magana LLC grew its stake in shares of Shopify by 5.4% in the third quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock worth $238,000 after purchasing an additional 152 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

SHOP stock opened at $79.52 on Wednesday. The company has a market capitalization of $102.48 billion, a PE ratio of -472.94, a price-to-earnings-growth ratio of 2.65 and a beta of 2.36. 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 company’s fifty day moving average price is $77.33 and its 200-day moving average price is $69.17.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm posted ($0.08) earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Wolfe Research started coverage on shares of Shopify in a report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 target price on the stock. Roth Mkm upped their price target on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Shopify in a research note on Tuesday, September 10th. Finally, Robert W. Baird boosted their price objective on shares of Shopify from $79.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. One investment 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.