Allworth Financial LP boosted its holdings in Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 6.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,542 shares of the software maker's stock after purchasing an additional 557 shares during the quarter. Allworth Financial LP's holdings in Shopify were worth $331,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Dynamic Advisor Solutions LLC raised its stake in Shopify by 12.4% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 20,429 shares of the software maker's stock worth $709,000 after purchasing an additional 2,248 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in Shopify by 3.4% in the 4th quarter. Flagship Harbor Advisors LLC now owns 48,822 shares of the software maker's stock worth $1,695,000 after purchasing an additional 1,598 shares in the last quarter. Mutual Advisors LLC raised its stake in Shopify by 2.6% in the 4th quarter. Mutual Advisors LLC now owns 36,645 shares of the software maker's stock worth $1,272,000 after purchasing an additional 945 shares in the last quarter. Titleist Asset Management LTD. raised its stake in Shopify by 3.0% in the 4th quarter. Titleist Asset Management LTD. now owns 175,663 shares of the software maker's stock worth $6,097,000 after purchasing an additional 5,178 shares in the last quarter. Finally, Gill Capital Partners LLC acquired a new stake in Shopify in the 4th quarter worth about $203,000. Institutional investors and hedge funds own 56.31% of the company's stock.
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Several analysts have weighed in on SHOP shares. William Blair reiterated an "outperform" rating on shares of Shopify in a research note on Wednesday, January 25th. The Goldman Sachs Group lifted their price objective on shares of Shopify from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 16th. Royal Bank of Canada raised their target price on shares of Shopify from $55.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, February 16th. CIBC raised shares of Shopify from a "neutral" rating to a "sector outperform" rating in a report on Tuesday, December 6th. Finally, DZ Bank raised shares of Shopify from a "sell" rating to a "hold" rating in a report on Friday, February 24th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $47.38.
Shopify Stock Down 1.8 %
Shares of NYSE SHOP opened at $44.98 on Friday. The company has a market capitalization of $56.80 billion, a P/E ratio of -16.48 and a beta of 2.04. Shopify Inc. has a 52-week low of $23.63 and a 52-week high of $75.88. 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 company's 50 day moving average price is $44.96 and its 200-day moving average price is $37.71.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, February 15th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.10. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.64 billion. Shopify had a negative net margin of 61.79% and a negative return on equity of 5.62%. Equities analysts forecast that Shopify Inc. will post -0.44 earnings per share for the current year.
Shopify Company Profile
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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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