Shopify Inc. (NYSE:SHOP) Stock Holdings Lifted by Procyon Advisors LLC

Procyon Advisors LLC grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,315 shares of the software maker’s stock after buying an additional 646 shares during the period. Procyon Advisors LLC’s holdings in Shopify were worth $3,452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PFG Investments LLC acquired a new position in shares of Shopify during the 4th quarter worth about $208,000. Schechter Investment Advisors LLC acquired a new position in shares of Shopify during the 4th quarter worth about $273,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Shopify during the 4th quarter worth about $363,000. Fiduciary Alliance LLC acquired a new position in shares of Shopify during the 4th quarter worth about $223,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of Shopify during the 4th quarter worth about $330,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Atb Cap Markets cut Shopify from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, December 6th. TD Securities upped their price target on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, December 6th. Barclays cut their price target on Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, February 14th. Morgan Stanley upped their price target on Shopify from $62.00 to $74.00 and gave the company an “equal weight” rating in a report on Monday, December 4th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Shopify in a report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Hold” and an average price target of $76.42.

Shopify Trading Up 0.3 %

Shopify stock traded up $0.21 during mid-day trading on Thursday, hitting $78.83. 769,500 shares of the company’s stock were exchanged, compared to its average volume of 9,745,259. The firm has a market capitalization of $101.42 billion, a P/E ratio of 873.65 and a beta of 2.22. Shopify Inc. has a fifty-two week low of $43.50 and a fifty-two week high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company’s 50 day simple moving average is $79.36 and its 200-day simple moving average is $69.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, equities analysts anticipate that Shopify Inc. will post 0.57 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.