Fiduciary Alliance LLC Has $513,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Fiduciary Alliance LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 128.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,557 shares of the software maker’s stock after purchasing an additional 3,690 shares during the quarter. Fiduciary Alliance LLC’s holdings in Shopify were worth $513,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Private Wealth Management Group LLC bought a new stake in Shopify in the 4th quarter valued at about $26,000. SJS Investment Consulting Inc. increased its holdings in shares of Shopify by 59.1% during the fourth 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 in the last quarter. DSM Capital Partners LLC acquired a new position in shares of Shopify during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new position in shares of Shopify in the 4th quarter worth $28,000. Finally, Your Advocates Ltd. LLP grew its position in Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

NYSE:SHOP opened at $66.05 on Monday. The business’s fifty day moving average is $64.20 and its 200 day moving average is $73.00. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. assumed coverage on Shopify in a research note on Tuesday, June 11th. They set an “overweight” rating and a $74.00 price target for the company. Benchmark reissued a “hold” rating on shares of Shopify in a research note on Tuesday, May 7th. Wells Fargo & Company cut their target price on Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Finally, BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.42.

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.