Shopify Inc. (NYSE:SHOP) Shares Purchased by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,655 shares of the software maker’s stock after acquiring an additional 180 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Shopify were worth $453,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the period. Capital World Investors lifted its stake in shares of Shopify by 26.2% in the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after acquiring an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares during the period. Finally, GQG Partners LLC grew its position in shares of Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 0.6 %

Shares of NYSE SHOP opened at $108.48 on Friday. The firm has a market cap of $139.98 billion, a price-to-earnings ratio of 101.38, a PEG ratio of 3.71 and a beta of 2.36. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10. The stock’s 50-day simple moving average is $81.97 and its 200-day simple moving average is $71.02.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Shopify had a return on equity of 11.60% and a net margin of 16.84%. As a group, equities analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of analyst reports. Robert W. Baird upped their price target on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Roth Mkm boosted their price target on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JMP Securities raised their target price on shares of Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, Scotiabank boosted their target price on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

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.