Shopify Inc. $SHOP Shares Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 391.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,308 shares of the software maker’s stock after purchasing an additional 4,229 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Shopify were worth $787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of Shopify in the third quarter valued at about $29,000. MADDEN SECURITIES Corp purchased a new stake in shares of Shopify during the 3rd quarter valued at about $30,000. Laurel Wealth Advisors LLC acquired a new position in Shopify during the 3rd quarter worth approximately $32,000. Graney & King LLC acquired a new position in Shopify during the 1st quarter worth approximately $27,000. Finally, Trellis Wealth Advisors LLC acquired a new position in Shopify during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Shopify from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, October 6th. Weiss Ratings lowered shares of Shopify from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Shopify from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Citigroup boosted their target price on shares of Shopify from $196.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Finally, Morgan Stanley downgraded shares of Shopify from an “overweight” rating to a “buy” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.79.

Shopify Trading Up 7.3%

NASDAQ:SHOP opened at $153.03 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35. Shopify Inc. has a one year low of $94.00 and a one year high of $180.88. The business’s 50-day simple moving average is $152.75 and its 200 day simple moving average is $130.11. The stock has a market cap of $196.90 billion, a price-to-earnings ratio of 93.31, a price-to-earnings-growth ratio of 2.94 and a beta of 2.65.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 3rd. The software maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. Shopify had a return on equity of 13.99% and a net margin of 15.01%. The firm had revenue of $3.74 billion during the quarter. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. As a group, sell-side analysts predict that Shopify Inc. will post 1.46 earnings per share for the current fiscal year.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported Q3 revenue of $3.74 billion, up 31.6% year over year, and earnings per share of $0.49, above consensus. Free cash flow rose 61% to $816 million, while operating income increased 66%. Read More.
• Positive Sentiment: Analyst actions were broadly supportive: National Bank Financial raised its target to $185 and reaffirmed “outperform,” while RBC maintained “outperform” with a $200 target. UBS raised its target to $160 but kept a neutral rating. Read More. · Read More. · Read More.
• Positive Sentiment: ARK Invest reportedly bought $12.5 million of Shopify shares during the post-earnings weakness, providing a vote of confidence from a prominent growth investor. Read More.
• Neutral Sentiment: Shopify highlighted growing AI-driven shopping activity, expanding payments penetration and rising Shop Pay usage. These initiatives could support future growth, though their financial contribution remains to be proven. Read More.
• Negative Sentiment: The quarter fell short of expectations on gross merchandise volume (about $119.1 billion) and subscription revenue; some reports also cited a modest revenue miss. The shortfalls triggered the recent sell-off and keep expectations for holiday-quarter execution high. Read More.
• Negative Sentiment: Valuation remains a risk: Shopify trades at a rich earnings multiple, leaving the stock vulnerable if growth or margins disappoint. Cantor Fitzgerald cut its target to $150 and retained a neutral rating. Read More.

Shopify Company Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.