Sequoia Financial Advisors LLC Grows Stock Holdings in Shopify Inc. (NYSE:SHOP)

Sequoia Financial Advisors LLC increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,207 shares of the software maker’s stock after buying an additional 1,699 shares during the period. Sequoia Financial Advisors LLC’s holdings in Shopify were worth $1,459,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group grew its position in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in Shopify during the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify during the second quarter valued at approximately $33,000. Redmont Wealth Advisors LLC purchased a new position in shares of Shopify in the first quarter worth $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Shopify during the second quarter worth $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Wedbush reaffirmed a “neutral” rating and issued a $72.00 target price (up from $68.00) on shares of Shopify in a report on Wednesday, August 7th. Loop Capital increased their price target on Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. UBS Group lifted their price objective on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird increased their target price on Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $79.49.

Shopify Price Performance

Shares of SHOP opened at $79.83 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The company has a 50 day moving average price of $76.94 and a 200-day moving average price of $69.00. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The stock has a market capitalization of $102.87 billion, a PE ratio of -469.56, a PEG ratio of 2.73 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Shopify’s revenue was up 20.7% on a year-over-year basis. Equities analysts predict that Shopify Inc. will post 0.76 earnings per share for the current fiscal 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.