Shopify Inc. (NYSE:SHOP) Shares Acquired by Heritage Wealth Advisors

Heritage Wealth Advisors grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3,957.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,449 shares of the software maker’s stock after purchasing an additional 3,364 shares during the period. Heritage Wealth Advisors’ holdings in Shopify were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of SHOP. Private Wealth Management Group LLC purchased a new stake in shares of Shopify in the 4th quarter valued at $26,000. SJS Investment Consulting Inc. raised its holdings in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares during the period. DSM Capital Partners LLC purchased a new stake in shares of Shopify in the 4th quarter valued at $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Shopify in the 4th quarter valued at $28,000. Finally, Your Advocates Ltd. LLP increased its holdings in Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after purchasing an additional 391 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NYSE SHOP traded down $4.91 during mid-day trading on Wednesday, hitting $64.81. The stock had a trading volume of 13,970,764 shares, compared to its average volume of 10,154,563. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $62.64 and a 200 day simple moving average of $72.06. The company has a market cap of $83.52 billion, a price-to-earnings ratio of -386.24, a P/E/G ratio of 3.21 and a beta of 2.30. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Equities analysts forecast that Shopify Inc. will post 0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several recent research reports. Citigroup upped their price target on Shopify from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Loop Capital lowered their price objective on Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $78.00 to $82.00 in a research report on Tuesday. Benchmark reissued a “hold” rating on shares of Shopify in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada decreased their target price on Shopify from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $77.44.

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.