AE Wealth Management LLC Has $3.23 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

AE Wealth Management LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,969 shares of the software maker’s stock after acquiring an additional 2,306 shares during the period. AE Wealth Management LLC’s holdings in Shopify were worth $3,234,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Shopify by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 469,529 shares of the software maker’s stock valued at $36,576,000 after buying an additional 41,205 shares during the period. Coldstream Capital Management Inc. bought a new stake in Shopify in the fourth quarter valued at about $251,000. Corient Private Wealth LLC raised its position in Shopify by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 82,347 shares of the software maker’s stock worth $6,415,000 after purchasing an additional 4,731 shares in the last quarter. US Bancorp DE lifted its stake in Shopify by 9.6% during the fourth quarter. US Bancorp DE now owns 68,229 shares of the software maker’s stock worth $5,315,000 after purchasing an additional 5,985 shares during the period. Finally, SageView Advisory Group LLC acquired a new stake in Shopify during the fourth quarter valued at approximately $432,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SHOP. Bank of America upgraded Shopify from a “neutral” rating to a “buy” rating and raised their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, July 16th. UBS Group upped their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Wedbush reissued a “neutral” rating and set a $72.00 price target (up from $68.00) on shares of Shopify in a report on Wednesday, August 7th. KeyCorp initiated coverage on shares of Shopify in a report on Thursday, July 25th. They set an “overweight” rating and a $80.00 price objective for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify 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 Monday. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The firm has a market cap of $101.45 billion, a P/E ratio of -463.06, a P/E/G ratio of 2.47 and a beta of 2.35. The stock’s 50-day moving average is $68.41 and its 200-day moving average is $68.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The business’s revenue was up 20.7% on a year-over-year basis. Sell-side analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal 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.