Strategic Advisors LLC Has $1.43 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Strategic Advisors LLC trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 28.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,890 shares of the software maker’s stock after selling 6,941 shares during the quarter. Strategic Advisors LLC’s holdings in Shopify were worth $1,434,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cresset Asset Management LLC increased its holdings in Shopify by 1.4% in the fourth quarter. Cresset Asset Management LLC now owns 104,481 shares of the software maker’s stock worth $8,139,000 after purchasing an additional 1,460 shares in the last quarter. MGO One Seven LLC increased its holdings in Shopify by 55.4% in the fourth quarter. MGO One Seven LLC now owns 22,623 shares of the software maker’s stock worth $1,762,000 after purchasing an additional 8,067 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter worth approximately $644,000. Garner Asset Management Corp bought a new stake in Shopify in the fourth quarter worth approximately $429,000. Finally, LM Advisors LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $412,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Tuesday, September 17th. Benchmark reissued a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Argus raised Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, KeyCorp began coverage on Shopify in a research report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price objective on the stock. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.97.

Shopify Stock Down 0.5 %

Shares of Shopify stock traded down $0.44 on Thursday, reaching $82.97. The company’s stock had a trading volume of 1,968,132 shares, compared to its average volume of 9,430,966. The company has a market capitalization of $106.92 billion, a price-to-earnings ratio of -490.74, a P/E/G ratio of 2.76 and a beta of 2.36. The firm’s fifty day simple moving average is $73.12 and its two-hundred day simple moving average is $68.65. 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.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS. Equities analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current 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.