First Affirmative Financial Network Takes $249,000 Position in Shopify Inc. (NYSE:SHOP)

First Affirmative Financial Network purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,233 shares of the software maker’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Private Wealth Management Group LLC acquired a new position in Shopify during the fourth quarter valued at approximately $26,000. SJS Investment Consulting Inc. increased its holdings in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares in the last quarter. DSM Capital Partners LLC acquired a new position in shares of Shopify during the fourth quarter worth $28,000. Jones Financial Companies Lllp acquired a new position in shares of Shopify during the fourth quarter worth $28,000. Finally, Your Advocates Ltd. LLP increased its holdings in shares of Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after buying an additional 391 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 1.8 %

Shopify stock opened at $65.03 on Friday. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The firm has a 50 day moving average price of $64.57 and a 200-day moving average price of $73.24. The company has a market capitalization of $83.80 billion, a P/E ratio of -382.53, a P/E/G ratio of 3.21 and a beta of 2.27. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. As a group, equities analysts predict that Shopify Inc. will post 0.61 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of several research analyst reports. Mizuho lowered their price target on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. The Goldman Sachs Group upped their price target on shares of Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a report on Thursday, May 9th. JPMorgan Chase & Co. initiated coverage on shares of Shopify in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $74.00 price objective on the stock. Finally, Evercore ISI raised shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Friday, June 14th. One 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.39.

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.