Shopify Inc. (NYSE:SHOP) Position Boosted by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 104.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,116 shares of the software maker’s stock after purchasing an additional 8,746 shares during the period. J.W. Cole Advisors Inc.’s holdings in Shopify were worth $1,131,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Envestnet Asset Management Inc. lifted its position in shares of Shopify by 93.6% during the second quarter. Envestnet Asset Management Inc. now owns 1,794,411 shares of the software maker’s stock worth $118,521,000 after purchasing an additional 867,431 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Shopify by 1,021.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 201,499 shares of the software maker’s stock worth $13,309,000 after purchasing an additional 183,526 shares during the last quarter. Wrapmanager Inc. bought a new position in shares of Shopify during the second quarter worth about $786,000. Allen Investment Management LLC lifted its position in shares of Shopify by 3.3% during the second quarter. Allen Investment Management LLC now owns 243,140 shares of the software maker’s stock worth $16,059,000 after purchasing an additional 7,710 shares during the last quarter. Finally, Wealthspire Advisors LLC lifted its position in shares of Shopify by 291.9% during the second quarter. Wealthspire Advisors LLC now owns 13,408 shares of the software maker’s stock worth $886,000 after purchasing an additional 9,987 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Shopify in a report on Thursday, August 8th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Bank of America raised shares of Shopify from a “neutral” rating to a “buy” rating and raised their target price for the stock from $78.00 to $82.00 in a report on Tuesday, July 16th. Finally, Citigroup cut their target price on shares of Shopify from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.37.

Shopify Trading Up 1.6 %

Shares of NYSE:SHOP opened at $72.45 on Monday. Shopify Inc. has a 12 month low of $45.50 and a 12 month 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. The company’s fifty day simple moving average is $67.38 and its 200 day simple moving average is $68.30. The firm has a market cap of $93.36 billion, a price-to-earnings ratio of -426.18, a PEG ratio of 2.39 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. As a group, research analysts forecast that Shopify Inc. will post 0.76 EPS for the current fiscal 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.