Delta Financial Group Inc. Makes New $223,000 Investment in Shopify Inc. (NYSE:SHOP)

Delta Financial Group Inc. purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the third quarter, HoldingsChannel reports. The firm purchased 2,779 shares of the software maker’s stock, valued at approximately $223,000.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp bought a new position in shares of Shopify during the fourth quarter worth $28,000. Belpointe Asset Management LLC bought a new position in shares of Shopify during the fourth quarter worth $309,000. Crossmark Global Holdings Inc. boosted its position in shares of Shopify by 3.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 69,305 shares of the software maker’s stock worth $5,399,000 after acquiring an additional 2,421 shares during the last quarter. Pinebridge Investments L.P. boosted its position in shares of Shopify by 201.3% during the fourth quarter. Pinebridge Investments L.P. now owns 9,122 shares of the software maker’s stock worth $711,000 after acquiring an additional 6,094 shares during the last quarter. Finally, Exencial Wealth Advisors LLC bought a new position in shares of Shopify during the fourth quarter worth $419,000. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 target price for the company. Wells Fargo & Company increased their price objective on shares of Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. increased their price objective on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Evercore increased their price objective on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Finally, Evercore ISI increased their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.38.

Shopify Stock Down 1.2 %

NYSE:SHOP opened at $78.15 on Friday. The company has a market cap of $100.71 billion, a PE ratio of -459.71, a P/E/G ratio of 2.65 and a beta of 2.35. 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 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $71.34 and its two-hundred day moving average is $68.63.

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