Doliver Advisors LP Acquires 183 Shares of Shopify Inc. $SHOP

Doliver Advisors LP boosted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,548 shares of the software maker’s stock after acquiring an additional 183 shares during the period. Doliver Advisors LP’s holdings in Shopify were worth $871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after buying an additional 584 shares during the last quarter. NorthRock Partners LLC raised its position in shares of Shopify by 125.5% in the 4th quarter. NorthRock Partners LLC now owns 5,999 shares of the software maker’s stock valued at $638,000 after purchasing an additional 3,339 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Shopify by 24.7% in the 4th quarter. Quantinno Capital Management LP now owns 48,553 shares of the software maker’s stock valued at $5,163,000 after purchasing an additional 9,602 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of Shopify by 46.2% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 117,766 shares of the software maker’s stock valued at $12,522,000 after purchasing an additional 37,193 shares during the last quarter. Finally, Shell Asset Management Co. raised its position in shares of Shopify by 2.3% in the 4th quarter. Shell Asset Management Co. now owns 19,608 shares of the software maker’s stock valued at $2,086,000 after purchasing an additional 445 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on SHOP shares. National Bankshares increased their price objective on shares of Shopify from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Barclays increased their price target on shares of Shopify from $94.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 6th. Canaccord Genuity Group increased their price target on shares of Shopify from $115.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $150.00 price target (up previously from $115.00) on shares of Shopify in a report on Thursday, August 7th. Twenty-four equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.27.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $143.38 on Friday. The stock has a market capitalization of $186.35 billion, a price-to-earnings ratio of 80.10, a PEG ratio of 6.87 and a beta of 2.69. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $156.85. The firm’s 50 day simple moving average is $133.77 and its 200-day simple moving average is $112.04.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the company earned $0.26 EPS. The business’s revenue was up 31.1% on a year-over-year basis. Analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.