MONECO Advisors LLC Invests $206,000 in Shopify Inc. (NYSE:SHOP)

MONECO Advisors LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,643 shares of the software maker’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. StoneCrest Wealth Management Inc. acquired a new stake in shares of Shopify during the 4th quarter worth about $1,164,000. FIL Ltd increased its position in shares of Shopify by 1.8% during the 4th quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock worth $1,035,688,000 after purchasing an additional 238,596 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Shopify by 4,007.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 34,624 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Shopify during the 4th quarter worth about $433,000. Finally, Evoke Wealth LLC acquired a new stake in shares of Shopify during the 4th quarter worth about $2,551,000. 69.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SHOP shares. Atb Cap Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. Royal Bank of Canada lowered their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Benchmark restated a “hold” rating on shares of Shopify in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.49.

Shopify Stock Performance

Shares of SHOP opened at $66.55 on Tuesday. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The firm has a fifty day simple moving average of $65.19 and a 200 day simple moving average of $73.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. As a group, equities analysts expect that Shopify Inc. will post 0.57 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.