Highline Wealth Partners LLC Invests $70,000 in Shopify Inc. (NYSE:SHOP)

Highline Wealth Partners LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 875 shares of the software maker’s stock, valued at approximately $70,000.

Other large investors have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group boosted its stake 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 during the period. Cultivar Capital Inc. bought a new position in shares of Shopify in the second quarter worth about $33,000. Hazlett Burt & Watson Inc. bought a new position in shares of Shopify in the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Shopify during the 2nd quarter valued at about $39,000. Finally, HighMark Wealth Management LLC boosted its position in Shopify by 63.3% in the 2nd quarter. HighMark Wealth Management LLC now owns 601 shares of the software maker’s stock valued at $40,000 after buying an additional 233 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHOP. UBS Group increased their price objective on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Wolfe Research initiated coverage on shares of Shopify in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price objective for the company. Wedbush reissued a “neutral” rating and issued a $72.00 price objective (up previously from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. Citigroup increased their target price on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Roth Mkm upped their price objective on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $80.21.

Shopify Stock Down 1.1 %

SHOP opened at $79.52 on Wednesday. The company has a fifty day moving average of $77.33 and a two-hundred day moving average of $69.17. The stock has a market capitalization of $102.48 billion, a price-to-earnings ratio of -472.94, a PEG ratio of 2.65 and a beta of 2.36. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.

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, topping analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm posted ($0.08) EPS. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, research analysts expect that Shopify Inc. will post 0.76 earnings per share 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.