Shopify Inc. (NYSE:SHOP) Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. increased its stake in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 9.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,693 shares of the software maker’s stock after acquiring an additional 1,143 shares during the period. Harbour Investments Inc.’s holdings in Shopify were worth $747,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Snowden Capital Advisors LLC grew its holdings in shares of Shopify by 7.8% during the second quarter. Snowden Capital Advisors LLC now owns 30,211 shares of the software maker’s stock worth $1,952,000 after purchasing an additional 2,180 shares during the last quarter. Soltis Investment Advisors LLC purchased a new position in shares of Shopify during the second quarter worth about $222,000. Great West Life Assurance Co. Can grew its holdings in shares of Shopify by 14.7% during the second quarter. Great West Life Assurance Co. Can now owns 897,052 shares of the software maker’s stock worth $58,299,000 after buying an additional 114,724 shares during the last quarter. Angeles Investment Advisors LLC purchased a new position in shares of Shopify during the third quarter worth about $427,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Shopify during the third quarter worth about $15,170,000. 60.28% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of Shopify stock opened at $74.97 on Tuesday. Shopify Inc. has a 52 week low of $39.79 and a 52 week high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average is $79.28 and its two-hundred day moving average is $68.77. The company has a market capitalization of $96.45 billion, a PE ratio of 833.09 and a beta of 2.22.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. As a group, analysts expect that Shopify Inc. will post 0.57 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. National Bankshares raised their price target on Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Citigroup lowered their price target on Shopify from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. JMP Securities restated a “market perform” rating on shares of Shopify in a research report on Monday, December 18th. Barclays reduced their price objective on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Shopify presently has a consensus rating of “Hold” and a consensus target price of $76.42.

Check Out Our Latest Stock Analysis on Shopify

Shopify Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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