Insigneo Advisory Services LLC Buys 1,245 Shares of Shopify Inc. (NYSE:SHOP)

Insigneo Advisory Services LLC boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,937 shares of the software maker’s stock after acquiring an additional 1,245 shares during the period. Insigneo Advisory Services LLC’s holdings in Shopify were worth $2,109,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Tradition Wealth Management LLC raised its holdings in Shopify by 7.5% during the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock valued at $156,000 after acquiring an additional 140 shares during the period. Willis Johnson & Associates Inc. lifted its holdings in shares of Shopify by 5.8% in the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after buying an additional 149 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of Shopify by 3.2% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock worth $377,000 after acquiring an additional 150 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Shopify by 11.4% in the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after acquiring an additional 152 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its position in shares of Shopify by 4.0% in the first quarter. Checchi Capital Advisers LLC now owns 4,178 shares of the software maker’s stock worth $322,000 after buying an additional 162 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock opened at $80.34 on Wednesday. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average price is $68.94 and its 200-day moving average price is $68.40. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) earnings per share. As a group, sell-side analysts predict that Shopify Inc. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on SHOP. Argus upgraded shares of Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Roth Mkm upped their price objective on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $82.00 in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.92.

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.