Shopify Inc. (NYSE:SHOP) Shares Purchased by Gill Capital Partners LLC

Gill Capital Partners LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,133 shares of the software maker’s stock after purchasing an additional 437 shares during the quarter. Gill Capital Partners LLC’s holdings in Shopify were worth $491,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group boosted its holdings in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the period. Cultivar Capital Inc. bought a new position in shares of Shopify during the second quarter worth about $33,000. Hazlett Burt & Watson Inc. bought a new position in shares of Shopify during the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Shopify during the second quarter worth about $39,000. Finally, Private Wealth Management Group LLC grew its position in shares of Shopify by 53.3% during the first quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock worth $40,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 2.1 %

NYSE:SHOP opened at $82.58 on Wednesday. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. 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 stock’s 50 day moving average price is $72.21 and its 200 day moving average price is $68.52. The company has a market capitalization of $106.42 billion, a P/E ratio of -485.76, a P/E/G ratio of 2.65 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results 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 return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, research analysts forecast that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on SHOP. Argus upgraded shares of Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Truist Financial lowered their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Benchmark restated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. UBS Group upped their price target on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Loop Capital upped their price target on shares of Shopify from $68.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.72.

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.