Baker Tilly Wealth Management LLC Has $1.12 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Baker Tilly Wealth Management LLC increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.9% during the third quarter, Holdings Channel reports. The institutional investor owned 13,992 shares of the software maker’s stock after purchasing an additional 1,598 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Shopify were worth $1,121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SHOP. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after buying an additional 143 shares during the last quarter. Willis Johnson & Associates Inc. increased its position 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 worth $211,000 after acquiring an additional 149 shares in the last quarter. Valley National Advisers Inc. increased its position 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 worth $114,000 after acquiring an additional 152 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Shopify by 5.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock worth $238,000 after acquiring an additional 152 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SHOP. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of Shopify in a research note on Tuesday, September 10th. Scotiabank upped their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a report on Monday, October 7th. One research 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.21.

Shopify Stock Up 0.3 %

Shares of NYSE SHOP opened at $79.31 on Monday. 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 has a market cap of $102.34 billion, a P/E ratio of 80.66, a P/E/G ratio of 2.65 and a beta of 2.36. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The business has a 50-day simple moving average of $77.13 and a two-hundred day simple moving average of $69.04.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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 analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. Shopify’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the business earned ($0.08) earnings per share. Research analysts anticipate that Shopify Inc. will post 0.76 earnings per share 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.