Axiom Advisory LLC Grows Position in Shopify Inc. (NYSE:SHOP)

Axiom Advisory LLC boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,880 shares of the software maker’s stock after buying an additional 170 shares during the period. Axiom Advisory LLC’s holdings in Shopify were worth $872,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GQG Partners LLC raised its stake in shares of Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares during the period. Capital World Investors raised its position in Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after purchasing an additional 10,340,040 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Shopify by 49.9% during the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after buying an additional 2,102,939 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of Shopify by 214.5% in the first quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock valued at $224,492,000 after buying an additional 1,983,996 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Benchmark restated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Wedbush reiterated a “neutral” rating and set a $72.00 target price (up from $68.00) on shares of Shopify in a report on Wednesday, August 7th. Evercore ISI boosted their price target on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Truist Financial reduced their price objective on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. One 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.38.

Shopify Price Performance

Shares of NYSE SHOP opened at $82.58 on Wednesday. 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 company has a market cap of $106.42 billion, a PE ratio of -485.76, a P/E/G ratio of 2.65 and a beta of 2.36. The stock has a fifty day moving average price of $72.21 and a 200 day moving average price of $68.52. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57.

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

Shopify 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.