Shopify Inc. (NYSE:SHOP) Shares Acquired by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,340 shares of the software maker’s stock after acquiring an additional 219 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Shopify were worth $335,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Wealth Management Group LLC purchased a new position in shares of Shopify in the fourth quarter valued at approximately $26,000. SJS Investment Consulting Inc. lifted 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 buying an additional 130 shares in the last quarter. DSM Capital Partners LLC purchased a new position in Shopify in the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new position in shares of Shopify in the fourth quarter worth $28,000. Finally, Your Advocates Ltd. LLP increased its position in shares of Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after acquiring an additional 391 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SHOP. DA Davidson lowered their target price on Shopify from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Loop Capital lowered their price objective on Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 15th. The Goldman Sachs Group raised their target price on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, TD Securities reduced their price objective on shares of Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. One 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, Shopify has an average rating of “Moderate Buy” and an average price target of $76.42.

Shopify Trading Down 0.5 %

SHOP stock opened at $66.05 on Monday. 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 1 year low of $45.50 and a 1 year high of $91.57. The stock has a 50-day simple moving average of $64.20 and a 200-day simple moving average of $73.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Sell-side analysts forecast 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.