Shopify Inc. $SHOP Shares Bought by CW Advisors LLC

CW Advisors LLC raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,645 shares of the software maker’s stock after acquiring an additional 7,167 shares during the period. CW Advisors LLC’s holdings in Shopify were worth $12,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC boosted its stake in Shopify by 105.2% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,750 shares of the software maker’s stock valued at $644,000 after acquiring an additional 3,461 shares in the last quarter. Tradition Wealth Management LLC lifted its stake in shares of Shopify by 15.4% during the first quarter. Tradition Wealth Management LLC now owns 3,678 shares of the software maker’s stock worth $351,000 after buying an additional 492 shares during the period. Erste Asset Management GmbH lifted its stake in shares of Shopify by 295.3% during the first quarter. Erste Asset Management GmbH now owns 217,436 shares of the software maker’s stock worth $20,965,000 after buying an additional 162,436 shares during the period. Credit Agricole S A lifted its stake in shares of Shopify by 6.2% during the first quarter. Credit Agricole S A now owns 58,899 shares of the software maker’s stock worth $5,624,000 after buying an additional 3,435 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Shopify by 38.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 225,390 shares of the software maker’s stock worth $21,520,000 after buying an additional 63,180 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOP has been the subject of several research reports. JMP Securities lifted their price objective on shares of Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. DA Davidson raised their target price on shares of Shopify from $125.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Citigroup raised their target price on shares of Shopify from $155.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Robert W. Baird raised their target price on shares of Shopify from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. Finally, Wedbush raised their target price on shares of Shopify from $115.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Twenty-four equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.51.

Shopify Stock Down 0.4%

SHOP stock opened at $136.68 on Friday. The stock has a market capitalization of $177.64 billion, a P/E ratio of 88.18, a P/E/G ratio of 4.82 and a beta of 2.63. The firm has a 50-day simple moving average of $123.82 and a 200-day simple moving average of $109.76. Shopify Inc. has a 52 week low of $65.86 and a 52 week high of $156.85.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. Shopify had a net margin of 22.74% and a return on equity of 12.00%. Shopify’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. On average, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

About Shopify

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.