4,888 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Keystone Wealth Services LLC

Keystone Wealth Services LLC bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,888 shares of the software maker’s stock, valued at approximately $323,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Private Wealth Management Group LLC purchased a new position in Shopify during the 4th quarter worth $26,000. DSM Capital Partners LLC purchased a new stake in shares of Shopify during the fourth quarter worth about $28,000. Jones Financial Companies Lllp acquired a new position in shares of Shopify during the fourth quarter valued at about $28,000. Your Advocates Ltd. LLP raised its position in shares of Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in Shopify in the 4th quarter worth approximately $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

SHOP stock traded up $0.75 during midday trading on Friday, reaching $69.30. The stock had a trading volume of 10,931,244 shares, compared to its average volume of 10,422,090. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a market cap 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’s fifty day simple moving average is $63.43 and its 200 day simple moving average is $69.89. The company has a current ratio of 7.14, a quick 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 the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts predict that Shopify Inc. will post 0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Canaccord Genuity Group lowered their price target on Shopify from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Loop Capital cut their price objective on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. KeyCorp started coverage on Shopify in a report on Thursday, July 25th. They set an “overweight” rating and a $80.00 target price for the company. Finally, CIBC cut their price target on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating on the stock in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.24.

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.