GFG Capital LLC Has $572,000 Stock Position in Shopify Inc. (NYSE:SHOP)

GFG Capital LLC increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,134 shares of the software maker’s stock after purchasing an additional 403 shares during the period. GFG Capital LLC’s holdings in Shopify were worth $572,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Capital World Investors grew its stake in Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the period. Vanguard Group Inc. grew its stake in Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after acquiring an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares during the period. GQG Partners LLC grew its stake in Shopify by 197.9% in the first 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. Finally, Capital International Investors grew its stake in Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after acquiring an additional 542,503 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SHOP shares. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a report on Monday, October 7th. Wells Fargo & Company raised their target price on Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Loop Capital raised their target price on Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. UBS Group raised their target price on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Morgan Stanley raised their target price on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One equities 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.36.

Shopify Stock Down 0.0 %

Shopify stock opened at $82.65 on Tuesday. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company’s 50-day moving average price is $76.54 and its two-hundred day moving average price is $68.88. The stock has a market cap of $106.51 billion, a price-to-earnings ratio of 84.34, a PEG ratio of 2.77 and a beta of 2.36. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping 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 analysts’ expectations of $2.01 billion. During the same period last year, the company posted ($0.08) earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal 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.