Aprio Wealth Management LLC Makes New $236,000 Investment in Shopify Inc. (NYSE:SHOP)

Aprio Wealth Management LLC bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,947 shares of the software maker’s stock, valued at approximately $236,000.

A number of other large investors have also added to or reduced their stakes in SHOP. GQG Partners LLC grew its position in Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Capital World Investors grew its position in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after acquiring an additional 10,340,040 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares during the period. Mackenzie Financial Corp grew its position in shares of Shopify by 49.9% during the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after acquiring an additional 2,102,939 shares during the period. Finally, Toronto Dominion Bank grew its position in shares of Shopify by 214.5% during the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock valued at $224,492,000 after acquiring an additional 1,983,996 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP stock opened at $82.58 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The company has a market capitalization of $106.42 billion, a P/E ratio of -485.76, a P/E/G ratio of 2.65 and a beta of 2.36. The company’s 50-day simple moving average is $72.21 and its two-hundred day simple moving average is $68.52. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business 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%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. As a group, equities analysts anticipate that Shopify Inc. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

SHOP has been the subject of a number of recent research reports. Roth Mkm boosted their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company boosted 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. Loop Capital boosted their price objective on shares of Shopify from $68.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a report on Tuesday, September 17th. Finally, Citigroup upped their target price on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.38.

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.