Shopify Inc. (NYSE:SHOP) Holdings Raised by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its position in Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) by 1,388.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,130 shares of the software maker’s stock after acquiring an additional 12,248 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Shopify were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Valley National Advisers Inc. increased its holdings in shares of Shopify by 392.3% in the 1st quarter. Valley National Advisers Inc. now owns 64 shares of the software maker’s stock valued at $43,000 after acquiring an additional 51 shares during the last quarter. Tcwp LLC bought a new stake in shares of Shopify in the 1st quarter valued at approximately $47,000. Twin Lakes Capital Management LLC bought a new stake in shares of Shopify in the 1st quarter valued at approximately $51,000. Sittner & Nelson LLC bought a new stake in shares of Shopify in the 1st quarter valued at approximately $57,000. Finally, Mach 1 Financial Group LLC bought a new stake in shares of Shopify in the 1st quarter valued at approximately $67,000. 54.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on SHOP shares. Piper Sandler upped their price objective on Shopify from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, October 28th. Wells Fargo & Company upped their price objective on Shopify from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Atlantic Securities upgraded Shopify from a “neutral” rating to an “overweight” rating and set a $46.00 price objective for the company in a research note on Thursday, August 11th. Citigroup lowered their price objective on Shopify from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, October 25th. Finally, Morgan Stanley upped their price objective on Shopify from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Shopify currently has an average rating of “Hold” and a consensus price target of $61.86.

Shopify Trading Up 4.2 %

Shares of NYSE SHOP opened at $36.77 on Thursday. Shopify Inc. has a 12 month low of $23.63 and a 12 month high of $166.13. The company has a market cap of $46.44 billion, a price-to-earnings ratio of -14.50 and a beta of 1.88. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $31.40 and a 200-day simple moving average of $35.96.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last announced its quarterly earnings data on Thursday, October 27th. The software maker reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.33 billion. Shopify had a negative return on equity of 3.82% and a negative net margin of 61.17%. Sell-side analysts predict that Shopify Inc. will post -0.5 EPS for the current year.

Shopify Company Profile

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Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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