Rosenberg Matthew Hamilton Raises Holdings in Shopify Inc. (NYSE:SHOP)

Rosenberg Matthew Hamilton raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 41.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 455 shares of the software maker’s stock after acquiring an additional 133 shares during the period. Rosenberg Matthew Hamilton’s holdings in Shopify were worth $36,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norden Group LLC purchased a new stake in shares of Shopify during the first quarter worth about $3,618,000. Cornerstone Wealth Management LLC raised its position in shares of Shopify by 20.1% in the 1st quarter. Cornerstone Wealth Management LLC now owns 13,524 shares of the software maker’s stock valued at $1,044,000 after purchasing an additional 2,265 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of Shopify by 8.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 15,086 shares of the software maker’s stock valued at $1,164,000 after buying an additional 1,144 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in shares of Shopify by 3.7% during the first quarter. J.W. Cole Advisors Inc. now owns 8,370 shares of the software maker’s stock worth $651,000 after buying an additional 296 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of Shopify in the first quarter worth $545,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the topic of several research reports. Wedbush reissued a “neutral” rating and set a $72.00 price target (up from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. Wolfe Research initiated coverage on shares of Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Shopify in a report on Monday, October 7th. Royal Bank of Canada lifted their target price on Shopify from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, KeyCorp initiated coverage on Shopify in a research report on Thursday, July 25th. They set an “overweight” rating and a $80.00 price target on the stock. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $80.21.

Shopify Trading Down 2.3 %

Shares of NYSE SHOP opened at $78.20 on Friday. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The business has a 50-day moving average price of $77.49 and a two-hundred day moving average price of $69.31. The firm has a market capitalization of $100.91 billion, a PE ratio of 79.80, a PEG ratio of 2.68 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. As a group, analysts predict that Shopify Inc. will post 0.76 earnings per share 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.