3,237 Shopify Inc. $SHOP Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,556 shares of the software maker’s stock after purchasing an additional 3,237 shares during the period. Park Avenue Securities LLC’s holdings in Shopify were worth $6,163,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Segment Wealth Management LLC increased its stake in Shopify by 2.2% in the 3rd quarter. Segment Wealth Management LLC now owns 6,146 shares of the software maker’s stock worth $911,000 after acquiring an additional 133 shares during the last quarter. Maxi Investments CY Ltd purchased a new stake in shares of Shopify in the 3rd quarter valued at about $1,483,000. Total Wealth Planning & Management Inc. boosted its position in shares of Shopify by 10.9% during the 3rd quarter. Total Wealth Planning & Management Inc. now owns 2,277 shares of the software maker’s stock valued at $338,000 after acquiring an additional 223 shares during the last quarter. Brucke Financial Inc. boosted its position in shares of Shopify by 3.2% during the 3rd quarter. Brucke Financial Inc. now owns 2,806 shares of the software maker’s stock valued at $416,000 after acquiring an additional 86 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Shopify by 4.7% during the 3rd quarter. Signaturefd LLC now owns 53,663 shares of the software maker’s stock valued at $7,958,000 after acquiring an additional 2,405 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 1.5%

Shares of SHOP opened at $168.22 on Thursday. The firm has a market cap of $216.44 billion, a P/E ratio of 113.66, a P/E/G ratio of 3.48 and a beta of 2.62. The stock has a 50 day simple moving average of $152.16 and a two-hundred day simple moving average of $130.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 5.35. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $3.58 billion for the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. On average, analysts forecast that Shopify Inc. will post 1.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the subject of several recent analyst reports. Zacks Research raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. UBS Group reaffirmed a “neutral” rating and issued a $145.00 target price (up from $130.00) on shares of Shopify in a research note on Thursday, August 6th. ATB Cormark Capital Markets lowered shares of Shopify from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Sanford C. Bernstein initiated coverage on shares of Shopify in a research report on Thursday, September 10th. They set an “outperform” rating and a $160.00 target price for the company. Finally, Stifel Nicolaus set a $210.00 price target on shares of Shopify and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.79.

About Shopify

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.