Soltis Investment Advisors LLC Buys 607 Shares of Shopify Inc. (NYSE:SHOP)

Soltis Investment Advisors LLC lifted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,238 shares of the software maker’s stock after acquiring an additional 607 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Shopify were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SHOP. Tradition Wealth Management LLC boosted its holdings in shares of Shopify by 7.5% in the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after buying an additional 140 shares during the last quarter. Willis Johnson & Associates Inc. boosted its holdings in shares of Shopify by 5.8% in the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after buying an additional 149 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Shopify by 3.2% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock worth $377,000 after buying an additional 150 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Shopify by 11.4% in the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after buying an additional 152 shares during the last quarter. Finally, Capital Advisors Inc. OK boosted its holdings in shares of Shopify by 1.7% in the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock worth $723,000 after buying an additional 153 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several analyst reports. Loop Capital lowered their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Scotiabank reduced their price target on shares of Shopify from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 9th. The Goldman Sachs Group boosted their price target on shares of Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Shopify from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Robert W. Baird cut their price objective on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.62.

Shopify Price Performance

Shares of NYSE:SHOP traded down $3.74 during midday trading on Friday, reaching $54.43. 18,357,852 shares of the company’s stock traded hands, compared to its average volume of 8,092,817. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The company has a market cap of $70.14 billion, a P/E ratio of -320.18, a PEG ratio of 3.36 and a beta of 2.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The company has a fifty day simple moving average of $63.09 and a two-hundred day simple moving average of $70.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Equities analysts predict that Shopify Inc. will post 0.62 EPS for the current fiscal year.

About Shopify

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.