Shopify Inc. (NYSE:SHOP) Shares Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,737 shares of the software maker’s stock after purchasing an additional 426 shares during the period. Marks Group Wealth Management Inc’s holdings in Shopify were worth $620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Cultivar Capital Inc. purchased a new position in shares of Shopify in the 2nd quarter valued at about $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify in the second quarter valued at about $33,000. Rosenberg Matthew Hamilton boosted its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Shopify during the second quarter worth about $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Shopify in a research note on Tuesday, September 10th. Truist Financial lowered their target price on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Roth Mkm lifted their price target on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Wedbush reissued a “neutral” rating and issued a $72.00 price objective (up from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. Finally, Loop Capital lifted their target price on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $81.03.

Shopify Price Performance

Shares of NYSE SHOP opened at $81.92 on Thursday. The company has a market capitalization of $105.71 billion, a price-to-earnings ratio of 83.59, a PEG 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 1-year low of $48.56 and a 1-year high of $91.57. The business has a 50-day moving average of $77.90 and a 200-day moving average of $69.61.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion for 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 quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) earnings per share. On average, equities analysts anticipate that Shopify Inc. will post 0.76 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.