Shopify Inc. (NYSE:SHOP) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 24.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,177 shares of the software maker’s stock after selling 1,380 shares during the quarter. Capital Investment Advisors LLC’s holdings in Shopify were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in Shopify by 96.1% during the 3rd quarter. Blue Trust Inc. now owns 5,468 shares of the software maker’s stock valued at $438,000 after acquiring an additional 2,680 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. grew its position in shares of Shopify by 112.5% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 202,527 shares of the software maker’s stock valued at $16,243,000 after purchasing an additional 107,214 shares in the last quarter. Claro Advisors LLC acquired a new stake in shares of Shopify in the third quarter valued at approximately $96,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Shopify by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,079 shares of the software maker’s stock worth $1,289,000 after buying an additional 194 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Shopify by 26.7% during the third quarter. Bleakley Financial Group LLC now owns 17,113 shares of the software maker’s stock worth $1,371,000 after buying an additional 3,610 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of SHOP opened at $82.65 on Tuesday. 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 firm’s fifty day simple moving average is $76.54 and its 200-day simple moving average is $68.88. The firm has a market capitalization of $106.51 billion, a price-to-earnings ratio of 84.34, a PEG ratio of 2.77 and a beta of 2.36. Shopify Inc. has a twelve month low of $45.50 and a twelve month 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the business earned ($0.08) EPS. Shopify’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts forecast that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several analyst reports. Barclays lifted their price target on Shopify from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Evercore ISI increased their price target on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Wolfe Research assumed coverage on Shopify in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, KeyCorp began coverage on Shopify in a research note on Thursday, July 25th. They set an “overweight” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $79.36.

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.