8,074 Shares in Shopify Inc. (NYSE:SHOP) Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,074 shares of the software maker’s stock, valued at approximately $629,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Artisan Partners Limited Partnership increased its position in Shopify by 78.4% during the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after purchasing an additional 2,113,773 shares during the last quarter. Baillie Gifford & Co. increased its position in Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after purchasing an additional 1,419,749 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Shopify during the third quarter worth approximately $68,746,000. International Assets Investment Management LLC increased its position in Shopify by 6,637.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock worth $92,592,000 after purchasing an additional 1,170,956 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in Shopify during the third quarter worth approximately $49,113,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 1.3 %

Shares of NYSE:SHOP opened at $70.57 on Tuesday. The stock has a market capitalization of $90.79 billion, a price-to-earnings ratio of 784.20 and a beta of 2.22. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The company’s fifty day moving average is $75.98 and its two-hundred day moving average is $72.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. Equities analysts anticipate that Shopify Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SHOP. StockNews.com downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. UBS Group boosted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Robert W. Baird boosted their price objective on shares of Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Wedbush reiterated a “neutral” rating and set a $68.00 price objective on shares of Shopify in a research note on Tuesday, February 13th. Finally, Truist Financial boosted their price objective on shares of Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Hold” and an average price target of $78.30.

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.