Orser Capital Management LLC Invests $945,000 in Shopify Inc. $SHOP

Orser Capital Management LLC bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,362 shares of the software maker’s stock, valued at approximately $945,000.

Several other institutional investors have also recently added to or reduced their stakes in SHOP. Heartwood Wealth Advisors LLC purchased a new position in Shopify in the third quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Shopify during the 2nd quarter worth approximately $25,000. Rothschild Investment LLC boosted its holdings in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Shopify in the 2nd quarter valued at $27,000. Finally, Tradewinds Capital Management LLC grew its position in shares of Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 0.9%

Shares of SHOP stock opened at $161.73 on Thursday. The stock’s 50-day moving average price is $159.45 and its 200 day moving average price is $140.95. The stock has a market capitalization of $210.55 billion, a PE ratio of 119.80, a price-to-earnings-growth ratio of 6.06 and a beta of 2.82. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. Analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BNP Paribas Exane began coverage on shares of Shopify in a research report on Monday, November 24th. They issued a “neutral” rating for the company. Zacks Research cut Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. JPMorgan Chase & Co. upped their target price on Shopify from $179.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. DZ Bank upgraded Shopify from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Truist Financial set a $155.00 price target on Shopify and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Twenty-two investment analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the company. According to MarketBeat.com, Shopify presently has a consensus rating of “Hold” and a consensus price target of $168.69.

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.