Capital Investment Advisory Services LLC Acquires 302 Shares of Shopify Inc. (NYSE:SHOP)

Capital Investment Advisory Services LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,823 shares of the software maker’s stock after purchasing an additional 302 shares during the period. Capital Investment Advisory Services LLC’s holdings in Shopify were worth $376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. StoneCrest Wealth Management Inc. acquired a new stake in Shopify in the fourth quarter valued at $1,164,000. Asset Management One Co. Ltd. increased its holdings in Shopify by 4,007.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock valued at $2,807,000 after purchasing an additional 34,624 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Shopify during the 4th quarter worth about $433,000. Bleakley Financial Group LLC grew its holdings in Shopify by 18.5% during the 4th quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after acquiring an additional 1,681 shares during the period. Finally, Advisor Resource Council acquired a new stake in Shopify during the 4th quarter worth about $1,488,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 4.9 %

Shares of NYSE:SHOP opened at $74.02 on Wednesday. The firm has a fifty day moving average price of $75.91 and a two-hundred day moving average price of $72.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a market cap of $95.23 billion, a price-to-earnings ratio of 822.54 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Analysts anticipate that Shopify Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. The Goldman Sachs Group increased their price target on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Shopify in a report on Wednesday, February 14th. Roth Capital increased their price target on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. DA Davidson increased their price target on Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley upgraded Shopify from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $74.00 to $85.00 in a report on Friday, April 19th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $78.30.

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.