Shopify Inc. (NYSE:SHOP) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its stake in shares of Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) by 1,388.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,130 shares of the software maker’s stock after acquiring an additional 12,248 shares during the period. Axxcess Wealth Management LLC’s holdings in Shopify were worth $410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of 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 owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE SHOP opened at $36.77 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.64 and a current ratio of 6.64. The firm has a market cap of $46.44 billion, a price-to-earnings ratio of -14.50 and a beta of 1.88. The business’s 50-day simple moving average is $31.40 and its 200-day simple moving average is $35.96. Shopify Inc. has a 52 week low of $23.63 and a 52 week high of $166.13.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last issued its quarterly earnings data on Thursday, October 27th. The software maker reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.33 billion. Shopify had a negative return on equity of 3.82% and a negative net margin of 61.17%. As a group, equities research analysts expect that Shopify Inc. will post -0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on SHOP shares. Credit Suisse Group lowered their price objective on Shopify from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Royal Bank of Canada lowered their price objective on Shopify from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. 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. Oppenheimer restated an “outperform” rating and set a $45.00 price objective (down from $50.00) on shares of Shopify in a research note on Wednesday, July 27th. Finally, Robert W. Baird upped their price objective on Shopify to $50.00 in a research note on Tuesday, November 1st. 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.

About Shopify

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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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