Detalus Advisors LLC Acquires Shares of 2,775 Shopify Inc. (NYSE:SHOP)

Detalus Advisors LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,775 shares of the software maker’s stock, valued at approximately $222,000.

Other institutional investors have also recently made changes to their positions in the company. Greenleaf Trust bought a new stake in shares of Shopify in the 3rd quarter worth about $301,000. Weaver Capital Management LLC lifted its stake in shares of Shopify by 63.1% during the 3rd quarter. Weaver Capital Management LLC now owns 50,186 shares of the software maker’s stock worth $4,022,000 after acquiring an additional 19,409 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Shopify by 0.5% during the 3rd quarter. Private Advisor Group LLC now owns 57,244 shares of the software maker’s stock valued at $4,588,000 after acquiring an additional 268 shares during the period. Waldron Private Wealth LLC bought a new position in Shopify in the 3rd quarter valued at $173,000. Finally, Eastern Bank bought a new stake in shares of Shopify during the third quarter worth $143,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHOP. Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, September 17th. Wells Fargo & Company raised their price objective on Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Evercore upped their target price on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Truist Financial cut their price target on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Finally, Benchmark reiterated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $79.36.

Shopify Stock Performance

Shares of SHOP stock traded down $1.11 on Wednesday, hitting $80.50. The company had a trading volume of 1,430,871 shares, compared to its average volume of 9,210,533. The firm has a market cap of $103.74 billion, a P/E ratio of 82.76, a price-to-earnings-growth ratio of 2.77 and a beta of 2.36. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a 50-day moving average price of $76.78 and a 200-day moving average price of $68.92. 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 released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion for 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 business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. As a group, equities research analysts predict that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Shopify 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.