WNY Asset Management LLC Takes Position in Shopify Inc. (NYSE:SHOP)

WNY Asset Management LLC acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,653 shares of the software maker’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SHOP. Private Wealth Management Group LLC bought a new stake in Shopify in the 4th quarter valued at $26,000. SJS Investment Consulting Inc. increased its holdings in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after acquiring an additional 130 shares during the last quarter. DSM Capital Partners LLC purchased a new position in shares of Shopify in the 4th quarter worth $28,000. Jones Financial Companies Lllp purchased a new position in shares of Shopify in the 4th quarter worth $28,000. Finally, Your Advocates Ltd. LLP grew its stake in shares of Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after buying an additional 391 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SHOP shares. Robert W. Baird dropped their price objective on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. JMP Securities raised shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, May 9th. Mizuho dropped their price target on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Loop Capital dropped their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Finally, Scotiabank dropped their price target on shares of Shopify from $80.00 to $75.00 and set a “sector perform” rating for the company in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $76.49.

Shopify Stock Up 4.6 %

NYSE:SHOP opened at $67.67 on Friday. The company has a market cap of $87.20 billion, a PE ratio of -398.03, a P/E/G ratio of 3.27 and a beta of 2.27. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $65.35 and its two-hundred day moving average is $73.55.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. Analysts anticipate that Shopify Inc. will post 0.61 EPS for the current 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.