Shopify Inc. (NYSE:SHOP) Holdings Raised by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 30.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,398 shares of the software maker’s stock after acquiring an additional 5,742 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Shopify were worth $1,955,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Cultivar Capital Inc. acquired a new position in shares of Shopify during the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify in the second quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Shopify in the second quarter valued at $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SHOP. Loop Capital upped their price target on shares of Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada lifted their price target on shares of Shopify from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. Finally, Benchmark restated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.03.

Shopify Stock Performance

SHOP traded up $0.23 during midday trading on Tuesday, reaching $78.67. The company’s stock had a trading volume of 433,487 shares, compared to its average volume of 9,002,313. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $91.57. The stock has a market cap of $101.51 billion, a P/E ratio of 80.04, a PEG ratio of 2.64 and a beta of 2.36. The company has a fifty day simple moving average of $77.61 and a 200 day simple moving average of $69.45. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (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 the consensus estimate of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. Shopify’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) earnings per share. Research analysts expect 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.