Shopify Inc. (NYSE:SHOP) Shares Purchased by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC grew its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,655 shares of the software maker’s stock after purchasing an additional 180 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Shopify were worth $453,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nations Financial Group Inc. IA ADV lifted its stake in Shopify by 4.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after buying an additional 209 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in Shopify by 735.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after purchasing an additional 46,589 shares during the last quarter. Baker Avenue Asset Management LP raised its holdings in shares of Shopify by 10.9% during the third quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock valued at $17,390,000 after buying an additional 21,265 shares during the last quarter. Atria Investments Inc grew its holdings in Shopify by 16.8% in the 3rd quarter. Atria Investments Inc now owns 158,383 shares of the software maker’s stock worth $12,693,000 after buying an additional 22,832 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Shopify by 3.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,371 shares of the software maker’s stock valued at $15,079,000 after acquiring an additional 7,009 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Down 0.6 %

Shares of SHOP opened at $108.48 on Friday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $115.62. The stock has a fifty day moving average of $81.97 and a two-hundred day moving average of $71.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10. The company has a market capitalization of $139.98 billion, a PE ratio of 101.38, a price-to-earnings-growth ratio of 3.71 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Shopify had a return on equity of 11.60% and a net margin of 16.84%. As a group, analysts forecast that Shopify Inc. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SHOP shares. Canaccord Genuity Group upped their price objective on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho raised their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday. Truist Financial upped their target price on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday. Loop Capital lifted their price target on Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.95.

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.