Legacy Financial Advisors Inc. Has $680,000 Holdings in Shopify Inc. (NYSE:SHOP)

Legacy Financial Advisors Inc. boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,288 shares of the software maker’s stock after purchasing an additional 1,324 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Shopify were worth $680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SHOP. Sei Investments Co. lifted its position in shares of Shopify by 78.6% in the 2nd quarter. Sei Investments Co. now owns 1,958,984 shares of the software maker’s stock worth $129,391,000 after acquiring an additional 862,294 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Shopify by 3.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 162,073 shares of the software maker’s stock worth $10,705,000 after purchasing an additional 4,916 shares during the period. AE Wealth Management LLC boosted its stake in Shopify by 4.9% during the second quarter. AE Wealth Management LLC now owns 48,969 shares of the software maker’s stock worth $3,234,000 after buying an additional 2,306 shares in the last quarter. Granite Investment Partners LLC increased its holdings in Shopify by 19.0% in the 2nd quarter. Granite Investment Partners LLC now owns 156,853 shares of the software maker’s stock valued at $10,360,000 after buying an additional 25,041 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Shopify by 129.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 49,440 shares of the software maker’s stock valued at $3,265,000 after buying an additional 27,878 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 0.1 %

Shares of NYSE:SHOP opened at $78.72 on Friday. The company has a 50 day moving average price of $68.41 and a two-hundred day moving average price of $68.38. 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 company has a market capitalization of $101.45 billion, a PE ratio of -463.06, a PEG ratio of 2.47 and a beta of 2.35. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the company earned ($0.08) EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. Analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

SHOP has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Tuesday, September 17th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Evercore raised their target price on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Finally, Roth Mkm upped their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $77.92.

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.