Shopify Inc. (NYSE:SHOP) Shares Acquired by MONECO Advisors LLC

MONECO Advisors LLC lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,948 shares of the software maker’s stock after purchasing an additional 330 shares during the period. MONECO Advisors LLC’s holdings in Shopify were worth $557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group increased its stake in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Cultivar Capital Inc. purchased a new position in shares of Shopify in the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. acquired a new stake in Shopify during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify in the second quarter valued at $39,000. Finally, GAMMA Investing LLC grew its holdings in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SHOP shares. Barclays upped their target price on Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Morgan Stanley upped their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. KeyCorp began coverage on shares of Shopify in a research note on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price objective on the stock. Evercore increased their target price on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. Finally, Roth Mkm boosted their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.21.

Shopify Price Performance

Shopify stock opened at $80.40 on Wednesday. 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 firm’s 50-day simple moving average is $77.33 and its 200 day simple moving average is $69.17. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The firm has a market capitalization of $103.61 billion, a PE ratio of -472.94, 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 earnings per share (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 company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm earned ($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, equities research analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal year.

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.