Arkadios Wealth Advisors Increases Stake in Shopify Inc. (NYSE:SHOP)

Arkadios Wealth Advisors raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,486 shares of the software maker’s stock after purchasing an additional 367 shares during the quarter. Arkadios Wealth Advisors’ holdings in Shopify were worth $1,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. Oliver Lagore Vanvalin Investment Group boosted its holdings in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the period. Cultivar Capital Inc. bought a new position in shares of Shopify in the second quarter worth $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify in the second quarter valued at $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Shopify during the 1st quarter valued at $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify during the 2nd quarter worth about $39,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shopify stock opened at $79.05 on Monday. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market cap of $101.87 billion, a P/E ratio of -465.00, a P/E/G ratio of 2.73 and a beta of 2.36. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The firm has a 50-day moving average of $77.13 and a 200-day moving average of $69.04.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business posted ($0.08) EPS. The business’s revenue was up 20.7% on a year-over-year basis. Sell-side analysts expect that Shopify Inc. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a report on Tuesday, September 17th. Piper Sandler reaffirmed a “neutral” rating and set a $67.00 price objective on shares of Shopify in a research note on Thursday, August 29th. Loop Capital increased their target price on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price target on shares of Shopify in a research report on Monday, October 7th. Finally, Argus upgraded Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.21.

Shopify 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.