Regal Investment Advisors LLC Purchases 942 Shares of Shopify Inc. (NYSE:SHOP)

Regal Investment Advisors LLC lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,977 shares of the software maker’s stock after buying an additional 942 shares during the period. Regal Investment Advisors LLC’s holdings in Shopify were worth $2,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Seaport Global Advisors LLC lifted its stake in shares of Shopify by 6.6% in the second quarter. Seaport Global Advisors LLC now owns 13,672 shares of the software maker’s stock worth $903,000 after buying an additional 847 shares in the last quarter. Wallace Advisory Group LLC bought a new position in shares of Shopify in the second quarter worth approximately $652,000. Sunbelt Securities Inc. lifted its position in Shopify by 6.8% during the second quarter. Sunbelt Securities Inc. now owns 14,399 shares of the software maker’s stock valued at $951,000 after purchasing an additional 915 shares during the period. Copperwynd Financial LLC bought a new position in Shopify during the second quarter valued at approximately $801,000. Finally, Creative Planning lifted its position in Shopify by 45.5% during the second quarter. Creative Planning now owns 376,040 shares of the software maker’s stock valued at $24,837,000 after purchasing an additional 117,593 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $80.15 on Tuesday. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $70.25 and a two-hundred day simple moving average of $68.48. The firm has a market capitalization of $103.29 billion, a P/E ratio of -471.47, a price-to-earnings-growth ratio of 2.69 and a beta of 2.35.

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 the consensus estimate 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 analyst estimates of $2.01 billion. During the same quarter last year, the business earned ($0.08) earnings per share. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. Analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price objective on the stock. Truist Financial lowered their price objective on shares of Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company increased their price objective on shares of Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Evercore increased their price objective on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Finally, Citigroup upped their target price on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday. One research 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.26.

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.