Wealth Alliance Has $461,000 Stake in Shopify Inc. (NYSE:SHOP)

Wealth Alliance lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,972 shares of the software maker’s stock after buying an additional 1,448 shares during the quarter. Wealth Alliance’s holdings in Shopify were worth $461,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Shopify by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 469,529 shares of the software maker’s stock valued at $36,576,000 after purchasing an additional 41,205 shares during the period. Level Four Advisory Services LLC acquired a new stake in Shopify in the fourth quarter worth $262,000. Coldstream Capital Management Inc. bought a new position in Shopify during the fourth quarter worth about $251,000. Balentine LLC bought a new position in shares of Shopify during the 4th quarter valued at about $265,000. Finally, Corient Private Wealth LLC lifted its stake in Shopify by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 82,347 shares of the software maker’s stock valued at $6,415,000 after buying an additional 4,731 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SHOP shares. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. The Goldman Sachs Group upped their price target on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Barclays increased their price objective on Shopify from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley raised their target price on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.92.

Shopify Trading Up 4.6 %

NYSE:SHOP opened at $78.70 on Friday. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The firm’s fifty day moving average is $68.13 and its 200-day moving average is $68.39. The firm has a market cap of $101.42 billion, a P/E ratio of -462.94, a P/E/G ratio of 2.47 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities analysts expect that Shopify Inc. will post 0.76 earnings per share for the current year.

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.