Shopify Inc. (NYSE:SHOP) Shares Purchased by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,756 shares of the software maker’s stock after acquiring an additional 209 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Shopify were worth $381,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC grew its position in Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after buying an additional 46,589 shares during the period. Baker Avenue Asset Management LP grew its position in shares of Shopify by 10.9% in 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 purchasing an additional 21,265 shares during the period. Atria Investments Inc grew its position in shares of Shopify by 16.8% in the third quarter. Atria Investments Inc now owns 158,383 shares of the software maker’s stock valued at $12,693,000 after purchasing an additional 22,832 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Shopify by 3.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,371 shares of the software maker’s stock valued at $15,079,000 after purchasing an additional 7,009 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Shopify by 5.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after purchasing an additional 28,639 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 5.2 %

Shares of SHOP stock opened at $109.08 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The stock has a market capitalization of $140.76 billion, a P/E ratio of 101.94, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. The company has a 50 day moving average price of $80.36 and a 200 day moving average price of $70.50. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $115.62.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.94%. Equities research analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their target price on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday. Scotiabank lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Benchmark reissued a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seventeen 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.95.

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.