Shopify Inc. (NYSE:SHOP) Position Increased by X Square Capital LLC

X Square Capital LLC raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,573 shares of the software maker’s stock after buying an additional 927 shares during the quarter. X Square Capital LLC’s holdings in Shopify were worth $767,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SHOP. YHB Investment Advisors Inc. purchased a new stake in shares of Shopify in the third quarter worth approximately $219,000. International Assets Investment Management LLC lifted its position in shares of Shopify by 7,928.7% in the third quarter. International Assets Investment Management LLC now owns 1,141,915 shares of the software maker’s stock worth $91,513,000 after purchasing an additional 1,127,692 shares in the last quarter. Detalus Advisors LLC purchased a new stake in shares of Shopify in the third quarter worth approximately $222,000. Greenleaf Trust purchased a new stake in shares of Shopify in the third quarter worth approximately $301,000. Finally, Weaver Capital Management LLC lifted its position in shares of Shopify by 63.1% in the third quarter. Weaver Capital Management LLC now owns 50,186 shares of the software maker’s stock worth $4,022,000 after purchasing an additional 19,409 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SHOP shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Evercore ISI raised their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. 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 report on Tuesday, September 17th. UBS Group raised their price objective on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Bank of America raised shares of Shopify from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.36.

Shopify Price Performance

Shares of SHOP stock opened at $79.65 on Thursday. The stock has a 50-day moving average price of $76.94 and a 200 day moving average price of $69.00. 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 has a market cap of $102.64 billion, a price-to-earnings ratio of 81.28, a PEG ratio of 2.77 and a beta of 2.36. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57.

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