Shopify Inc. (NYSE:SHOP) Shares Bought by First United Bank & Trust

First United Bank & Trust boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,490 shares of the software maker’s stock after buying an additional 820 shares during the quarter. First United Bank & Trust’s holdings in Shopify were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its position in shares of Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares during the last quarter. CVA Family Office LLC grew its position in shares of Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares during the last quarter. Willis Johnson & Associates Inc. lifted its stake in shares of Shopify by 5.8% during the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after buying an additional 149 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Shopify by 11.4% during the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after buying an additional 152 shares during the period. Finally, Guardian Asset Advisors LLC lifted its stake in shares of Shopify by 3.0% during the third quarter. Guardian Asset Advisors LLC now owns 5,582 shares of the software maker’s stock valued at $447,000 after buying an additional 160 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Loop Capital upped their price objective on shares of Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday, September 17th. Robert W. Baird upped 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. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, Bank of America raised shares of Shopify from a “neutral” rating to a “buy” rating and increased their price target for the stock from $78.00 to $82.00 in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.97.

Shopify Trading Down 2.1 %

Shares of NYSE:SHOP opened at $81.94 on Wednesday. The company has a market cap of $105.59 billion, a PE ratio of 83.61, a P/E/G ratio of 2.77 and a beta of 2.36. The company’s 50-day moving average price is $75.37 and its 200 day moving average price is $68.72. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week 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.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share 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 firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the firm posted ($0.08) EPS. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current 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.