Mercer Global Advisors Inc. ADV Purchases 3,631 Shares of Shopify Inc. (NYSE:SHOP)

Mercer Global Advisors Inc. ADV increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,783 shares of the software maker’s stock after buying an additional 3,631 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Shopify were worth $3,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DSM Capital Partners LLC bought a new position in Shopify in the 4th quarter worth $28,000. Jones Financial Companies Lllp bought a new position in Shopify in the fourth quarter worth about $28,000. Cultivar Capital Inc. purchased a new stake in Shopify in the second quarter worth about $33,000. Hazlett Burt & Watson Inc. bought a new stake in Shopify during the 2nd quarter valued at approximately $33,000. Finally, OLD Point Trust & Financial Services N A purchased a new position in shares of Shopify during the 4th quarter worth approximately $39,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHOP has been the topic of several research reports. Bank of America upgraded Shopify from a “neutral” rating to a “buy” rating and lifted their price target for the company from $78.00 to $82.00 in a research report on Tuesday, July 16th. Evercore boosted their target price on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One equities 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 stock. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $77.92.

Shopify Trading Up 0.1 %

NYSE:SHOP opened at $78.72 on Friday. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The business has a fifty day moving average price of $68.41 and a 200-day moving average price of $68.38. The firm has a market capitalization of $101.45 billion, a price-to-earnings ratio of -463.06, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. Sell-side analysts forecast that Shopify Inc. will post 0.76 EPS 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.