Dynamic Advisor Solutions LLC lifted its stake in Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 12.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,429 shares of the software maker's stock after buying an additional 2,248 shares during the quarter. Dynamic Advisor Solutions LLC's holdings in Shopify were worth $709,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new stake in Shopify during the 1st quarter valued at approximately $169,000. Raymond James Trust N.A. raised its stake in Shopify by 26.5% during the 1st quarter. Raymond James Trust N.A. now owns 754 shares of the software maker's stock valued at $510,000 after purchasing an additional 158 shares during the period. Dimensional Fund Advisors LP raised its stake in Shopify by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker's stock valued at $20,391,000 after purchasing an additional 592 shares during the period. Cetera Investment Advisers raised its stake in Shopify by 13.0% during the 1st quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker's stock valued at $3,107,000 after purchasing an additional 527 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in Shopify by 89.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker's stock valued at $295,000 after purchasing an additional 206 shares during the period. Institutional investors own 56.31% of the company's stock.
Get Shopify alerts:Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Truist Financial lifted their price objective on Shopify from $35.00 to $41.00 and gave the stock a "hold" rating in a research note on Thursday, January 19th. KeyCorp lifted their price objective on Shopify from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 14th. Roth Capital raised Shopify from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $38.00 to $56.00 in a research note on Monday, January 30th. Scotiabank initiated coverage on Shopify in a research note on Tuesday, January 31st. They issued a "sector perform" rating and a $43.00 price objective on the stock. Finally, Credit Suisse Group lifted their target price on Shopify from $34.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, February 16th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $47.38.
Shopify Trading Up 1.8 %
SHOP opened at $45.79 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.07 and a current ratio of 7.07. The stock's 50 day simple moving average is $44.84 and its 200 day simple moving average is $37.55. Shopify Inc. has a 1-year low of $23.63 and a 1-year high of $75.88.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last announced its earnings results on Wednesday, February 15th. The software maker reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.10. The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.64 billion. Shopify had a negative return on equity of 5.62% and a negative net margin of 61.79%. On average, sell-side analysts anticipate that Shopify Inc. will post -0.44 earnings per share for the current year.
About Shopify
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Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm's platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.
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