Empower Advisory Group LLC Acquires 315 Shares of Shopify Inc. (NYSE:SHOP)

Empower Advisory Group LLC grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,366 shares of the software maker’s stock after acquiring an additional 315 shares during the period. Empower Advisory Group LLC’s holdings in Shopify were worth $1,231,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group lifted its stake 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 period. Rosenberg Matthew Hamilton raised its position in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. Cultivar Capital Inc. bought a new stake in Shopify during the second quarter valued at about $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify in the second quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Shopify in the second quarter worth about $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Up 5.7 %

Shares of Shopify stock opened at $115.13 on Thursday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $115.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a market cap of $148.56 billion, a P/E ratio of 107.60, a P/E/G ratio of 3.64 and a beta of 2.36. The stock’s 50 day simple moving average is $79.47 and its 200-day simple moving average is $70.18.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. Shopify had a return on equity of 11.94% and a net margin of 16.84%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore lifted their price target on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Wedbush reiterated a “neutral” rating and set a $115.00 price objective (up previously from $72.00) on shares of Shopify in a report on Tuesday. UBS Group upped their target price on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Mizuho increased their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.95.

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.