CoreCap Advisors LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

CoreCap Advisors LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,133 shares of the software maker’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Shopify by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock worth $2,233,344,000 after purchasing an additional 634,883 shares during the last quarter. Norges Bank bought a new stake in Shopify during the 4th quarter worth about $414,365,000. Scge Management L.P. raised its holdings in Shopify by 0.9% during the 2nd quarter. Scge Management L.P. now owns 8,486,491 shares of the software maker’s stock worth $548,227,000 after purchasing an additional 79,491 shares during the last quarter. TD Asset Management Inc grew its position in shares of Shopify by 4.4% during the 3rd quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock worth $389,052,000 after buying an additional 299,788 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Shopify by 6.5% during the 3rd quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock worth $339,750,000 after buying an additional 377,901 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 0.1 %

Shares of NYSE SHOP opened at $78.62 on Thursday. 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 Inc. has a 52 week low of $43.50 and a 52 week high of $91.57. The stock has a market capitalization of $101.15 billion, a P/E ratio of 873.65 and a beta of 2.22. The stock’s fifty day moving average is $79.36 and its 200 day moving average is $69.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Sell-side analysts forecast that Shopify Inc. will post 0.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on SHOP. Atb Cap Markets lowered Shopify from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, December 6th. StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a research note on Saturday, January 27th. Wells Fargo & Company lowered their target price on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Piper Sandler increased their target price on Shopify from $56.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Finally, DA Davidson raised their price target on shares of Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.42.

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.