Vanguard Capital Wealth Advisors Increases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Vanguard Capital Wealth Advisors boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the software maker’s stock after buying an additional 500 shares during the period. Vanguard Capital Wealth Advisors’ holdings in Shopify were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC acquired a new position in shares of Shopify in the 4th quarter valued at $26,000. DSM Capital Partners LLC acquired a new position in shares of Shopify in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new position in shares of Shopify in the fourth quarter worth about $28,000. Cultivar Capital Inc. acquired a new stake in shares of Shopify during the second quarter worth about $33,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Shopify in the second quarter valued at approximately $33,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

NYSE:SHOP opened at $71.51 on Thursday. The firm has a market capitalization of $92.15 billion, a price-to-earnings ratio of -420.65, a PEG ratio of 2.25 and a beta of 2.35. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. 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’s 50-day moving average is $67.19 and its two-hundred day moving average is $68.43.

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, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business posted ($0.08) earnings per share. Shopify’s revenue was up 20.7% compared to the same quarter last year. Analysts forecast that Shopify Inc. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price target for the company. Cantor Fitzgerald initiated coverage on shares of Shopify in a report on Thursday, September 5th. They set a “neutral” rating and a $70.00 target price for the company. Wedbush reaffirmed a “neutral” rating and issued a $72.00 price target (up from $68.00) on shares of Shopify in a report on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price target on shares of Shopify in a research report on Tuesday. Finally, Barclays boosted their price objective on Shopify from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $77.37.

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.