SageView Advisory Group LLC Invests $432,000 in Shopify Inc. (NYSE:SHOP)

SageView Advisory Group LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,252 shares of the software maker’s stock, valued at approximately $432,000.

Other large investors have also modified their holdings of the company. Private Wealth Management Group LLC purchased a new stake in shares of Shopify in the 4th quarter valued at $26,000. SJS Investment Consulting Inc. increased its holdings in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the period. DSM Capital Partners LLC purchased a new stake in Shopify during the 4th quarter worth about $28,000. Jones Financial Companies Lllp purchased a new stake in Shopify during the 4th quarter worth about $28,000. Finally, Your Advocates Ltd. LLP increased its holdings in Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after purchasing an additional 391 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent research reports. Mizuho cut their price target on Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Citigroup lowered their price objective on Shopify from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. CIBC lowered their price objective on Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a research report on Thursday, May 9th. Robert W. Baird lowered their price objective on Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, Scotiabank lowered their price objective on Shopify from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.49.

Shopify Stock Down 3.4 %

Shares of SHOP stock opened at $64.25 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The business has a 50 day moving average of $64.83 and a two-hundred day moving average of $73.37. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

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