GM Advisory Group LLC Boosts Holdings in Shopify Inc. (NYSE:SHOP)

GM Advisory Group LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,607 shares of the software maker’s stock after buying an additional 1,450 shares during the quarter. GM Advisory Group LLC’s holdings in Shopify were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Tradition Wealth Management LLC grew its stake in shares of Shopify by 7.5% during the 4th 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. increased its stake 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 purchasing an additional 149 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of Shopify by 3.2% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock valued at $377,000 after purchasing an additional 150 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Shopify by 11.4% during the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after buying an additional 152 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in Shopify by 4.0% in the 1st 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 during the period. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SHOP. The Goldman Sachs Group boosted their price objective on Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price target on shares of Shopify in a research note on Thursday, August 8th. Bank of America upgraded shares of Shopify from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, July 16th. Morgan Stanley upped their target price on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued 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 price target of $77.92.

Shopify Price Performance

SHOP opened at $78.70 on Friday. The company has a market capitalization of $101.42 billion, a price-to-earnings ratio of -462.94, a PEG ratio of 2.47 and a beta of 2.35. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The business’s fifty day simple moving average is $68.13 and its 200-day simple moving average is $68.39.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.01 billion. During the same quarter last year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal 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.