Mountain Capital Investment Advisors Inc. Has $285,000 Position in Shopify Inc. $SHOP

Mountain Capital Investment Advisors Inc. raised its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,533 shares of the software maker’s stock after buying an additional 270 shares during the quarter. Mountain Capital Investment Advisors Inc.’s holdings in Shopify were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SHOP. Brighton Jones LLC increased its stake in Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after purchasing an additional 584 shares in the last quarter. GAMMA Investing LLC increased its stake in Shopify by 80.0% during the 1st quarter. GAMMA Investing LLC now owns 963 shares of the software maker’s stock worth $92,000 after purchasing an additional 428 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Shopify by 0.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 154,273 shares of the software maker’s stock worth $14,730,000 after purchasing an additional 799 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in Shopify by 2.9% during the 1st quarter. Johnson Investment Counsel Inc. now owns 5,541 shares of the software maker’s stock worth $529,000 after purchasing an additional 158 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Shopify by 31.4% during the 1st quarter. Blue Trust Inc. now owns 2,379 shares of the software maker’s stock worth $227,000 after purchasing an additional 568 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on Shopify from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup increased their target price on Shopify from $155.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a research report on Wednesday, October 8th. Evercore ISI upped their price target on Shopify from $120.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Barclays upped their price target on Shopify from $94.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.76.

Shopify Trading Up 0.8%

NASDAQ SHOP opened at $157.76 on Monday. The company has a market cap of $205.03 billion, a PE ratio of 88.13, a PEG ratio of 7.39 and a beta of 2.72. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $169.69. The stock has a 50 day moving average of $148.00 and a 200-day moving average of $121.40.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

About Shopify

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.