2,743 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Evolution Wealth Advisors LLC

Evolution Wealth Advisors LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,743 shares of the software maker’s stock, valued at approximately $220,000.

Other large investors also recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV grew its position in shares of Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after acquiring an additional 209 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in Shopify by 735.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after purchasing an additional 46,589 shares during the period. Baker Avenue Asset Management LP grew its holdings in Shopify by 10.9% in the third quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock valued at $17,390,000 after purchasing an additional 21,265 shares during the period. Atria Investments Inc increased its position in shares of Shopify by 16.8% in the third quarter. Atria Investments Inc now owns 158,383 shares of the software maker’s stock valued at $12,693,000 after buying an additional 22,832 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Shopify by 3.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,371 shares of the software maker’s stock worth $15,079,000 after buying an additional 7,009 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 0.5 %

Shares of NYSE SHOP opened at $108.49 on Friday. The company has a current ratio of 7.10, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $139.99 billion, a PE ratio of 101.38, a PEG ratio of 3.71 and a beta of 2.36. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $115.62. The stock has a fifty day simple moving average of $81.97 and a 200-day simple moving average of $71.02.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Shopify had a return on equity of 11.60% and a net margin of 16.84%. On average, equities analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

SHOP has been the subject of several recent analyst reports. Citigroup boosted their price target on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Piper Sandler raised their price target on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore boosted their price objective on Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. Finally, Evercore ISI raised their target price on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $94.95.

Shopify 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.