J.W. Cole Advisors Inc. Purchases New Holdings in Shopify Inc. (NYSE:SHOP)

J.W. Cole Advisors Inc. purchased a new stake in Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,148 shares of the software maker’s stock, valued at approximately $776,000.

Several other institutional investors have also made changes to their positions in SHOP. Western Pacific Wealth Management LP bought a new stake in shares of Shopify in the fourth quarter valued at approximately $26,000. Parkside Financial Bank & Trust lifted its stake in Shopify by 666.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 23 shares of the software maker’s stock worth $32,000 after purchasing an additional 20 shares during the last quarter. GoalVest Advisory LLC bought a new stake in Shopify during the first quarter worth $39,000. Valley National Advisers Inc. lifted its stake in Shopify by 392.3% during the first quarter. Valley National Advisers Inc. now owns 64 shares of the software maker’s stock worth $43,000 after purchasing an additional 51 shares during the last quarter. Finally, Activest Wealth Management lifted its stake in Shopify by 266.7% during the first quarter. Activest Wealth Management now owns 66 shares of the software maker’s stock worth $45,000 after purchasing an additional 48 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SHOP shares. National Bankshares set a $75.00 price target on shares of Shopify and gave the stock an “outperform” rating in a report on Thursday, June 30th. Citigroup lowered their price target on shares of Shopify from $43.20 to $37.00 in a report on Tuesday, July 26th. KGI Securities downgraded shares of Shopify from an “outperform” rating to a “neutral” rating in a report on Friday, August 5th. Canaccord Genuity Group lowered their price target on shares of Shopify from $45.00 to $40.00 in a report on Thursday, July 28th. Finally, DZ Bank downgraded shares of Shopify from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $72.33.

Shopify Price Performance

Shares of NYSE SHOP opened at $31.73 on Friday. Shopify Inc. has a fifty-two week low of $29.07 and a fifty-two week high of $176.29. The stock has a market cap of $39.95 billion, a price-to-earnings ratio of -20.94 and a beta of 1.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 11.17 and a current ratio of 11.17. The firm’s 50-day simple moving average is $34.94 and its 200 day simple moving average is $45.32.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, July 27th. The software maker reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.04). Shopify had a negative return on equity of 1.61% and a negative net margin of 38.01%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.33 billion. As a group, research analysts anticipate that Shopify Inc. will post -0.45 earnings per share for the current fiscal year.

About Shopify

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Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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