Shopify Inc. (NYSE:SHOP) Shares Bought by Americana Partners LLC

Americana Partners LLC grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 157.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,555 shares of the software maker’s stock after acquiring an additional 9,508 shares during the period. Americana Partners LLC’s holdings in Shopify were worth $1,247,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group lifted its holdings in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Cultivar Capital Inc. bought a new stake in shares of Shopify during the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify during the second quarter valued at approximately $33,000. Rosenberg Matthew Hamilton raised its holdings in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Shopify during the second quarter valued at approximately $39,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SHOP shares. JPMorgan Chase & Co. lifted their price target on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Robert W. Baird lifted their price target on Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Morgan Stanley lifted their price target on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada lifted their price target on Shopify from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.03.

Shopify Stock Up 1.0 %

Shopify stock opened at $78.99 on Friday. The firm has a market cap of $101.93 billion, a price-to-earnings ratio of 80.60, a P/E/G ratio of 2.62 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $91.57. The firm has a fifty day moving average price of $77.54 and a two-hundred day moving average price of $69.38.

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

Shopify Company 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.