NBC Securities Inc. Buys 2,146 Shares of Shopify Inc. (NYSE:SHOP)

NBC Securities Inc. boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 32.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,808 shares of the software maker’s stock after purchasing an additional 2,146 shares during the quarter. NBC Securities Inc.’s holdings in Shopify were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Norden Group LLC bought a new stake in Shopify during the first quarter valued at about $3,618,000. Silvercrest Asset Management Group LLC boosted its position in Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after purchasing an additional 46,589 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Shopify by 5.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after purchasing an additional 28,639 shares in the last quarter. Clearbridge Investments LLC raised its stake in Shopify by 54.2% in the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after buying an additional 1,657,251 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after acquiring an additional 713,064 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of several recent analyst reports. Wolfe Research initiated coverage on Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price target for the company. Argus raised Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target on shares of Shopify in a report on Thursday, August 8th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Shopify in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.97.

Shopify Stock Performance

NYSE SHOP opened at $81.82 on Thursday. The stock’s fifty day moving average is $75.73 and its two-hundred day moving average is $68.81. The firm has a market capitalization of $105.44 billion, a P/E ratio of -481.29, a price-to-earnings-growth ratio of 2.77 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

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

Shopify Company 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.