Capital Investment Advisors LLC Acquires 2,442 Shares of Shopify Inc. (NYSE:SHOP)

Capital Investment Advisors LLC increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 78.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,557 shares of the software maker’s stock after purchasing an additional 2,442 shares during the period. Capital Investment Advisors LLC’s holdings in Shopify were worth $367,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors boosted its stake in Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after acquiring an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. boosted its stake in Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after acquiring an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares in the last quarter. GQG Partners LLC boosted its stake in Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors boosted its stake in Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after acquiring an additional 542,503 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. Wells Fargo & Company lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird lowered their price objective on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Wedbush reiterated a “neutral” rating and set a $72.00 price objective (up from $68.00) on shares of Shopify in a research note on Wednesday. Finally, Mizuho lowered their price objective on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $77.24.

Shopify Price Performance

Shares of NYSE SHOP traded up $0.75 during trading on Friday, hitting $69.30. The company had a trading volume of 10,931,244 shares, compared to its average volume of 10,422,090. The stock has a fifty day simple moving average of $63.43 and a two-hundred day simple moving average of $69.96. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The firm has a market capitalization of $89.31 billion, a price-to-earnings ratio of -407.65, a price-to-earnings-growth ratio of 3.14 and a beta of 2.30. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. Shopify’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share. On average, research analysts expect that Shopify Inc. will post 0.62 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.