Wealthcare Advisory Partners LLC Grows Stock Holdings in Shopify Inc. (NYSE:SHOP)

Wealthcare Advisory Partners LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,340 shares of the software maker’s stock after purchasing an additional 219 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Shopify were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new stake in Shopify during the 1st quarter valued at $1,443,000. Brookstone Capital Management raised its stake in shares of Shopify by 3.5% in the first quarter. Brookstone Capital Management now owns 7,646 shares of the software maker’s stock valued at $590,000 after acquiring an additional 260 shares during the period. RMR Wealth Builders lifted its holdings in shares of Shopify by 13.7% in the 1st quarter. RMR Wealth Builders now owns 11,059 shares of the software maker’s stock worth $853,000 after acquiring an additional 1,332 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its holdings in shares of Shopify by 70.4% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 5,248 shares of the software maker’s stock worth $378,000 after acquiring an additional 2,168 shares during the last quarter. Finally, Evanson Asset Management LLC boosted its stake in shares of Shopify by 2.9% during the 1st quarter. Evanson Asset Management LLC now owns 10,045 shares of the software maker’s stock worth $775,000 after purchasing an additional 285 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SHOP has been the subject of several analyst reports. Loop Capital decreased their price objective on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. JMP Securities raised Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, May 9th. Mizuho dropped their price objective on Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Scotiabank reduced their target price on Shopify from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 9th. Finally, The Goldman Sachs Group lifted their target price on Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

Shopify Trading Down 0.5 %

NYSE SHOP opened at $66.05 on Monday. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a fifty day simple moving average of $64.20 and a two-hundred day simple moving average of $73.00. 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 issued its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. On average, equities research analysts expect that Shopify Inc. will post 0.61 earnings per share for the current year.

Shopify Company 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.