Crestwood Advisors Group LLC Has $4.32 Million Holdings in Shopify Inc. (NYSE:SHOP)

Crestwood Advisors Group LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,862 shares of the software maker’s stock after selling 1,225 shares during the period. Crestwood Advisors Group LLC’s holdings in Shopify were worth $4,317,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SHOP. Oliver Lagore Vanvalin Investment Group grew its position in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new stake in shares of Shopify during the 2nd quarter worth approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify during the 2nd quarter worth approximately $33,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Shopify during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 1.5 %

Shopify stock opened at $79.58 on Wednesday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $91.57. The firm has a market capitalization of $102.69 billion, a price-to-earnings ratio of 81.20, a price-to-earnings-growth ratio of 2.64 and a beta of 2.36. The firm’s fifty day moving average price is $77.71 and its two-hundred day moving average price is $69.52. 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 released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.01 billion. During the same period last year, the firm earned ($0.08) earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. On average, equities research analysts predict that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Roth Mkm increased their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Citigroup increased their price objective on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Robert W. Baird increased their price objective on shares of Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price objective on shares of Shopify in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $81.03.

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.