Janney Montgomery Scott LLC Has $1.96 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Janney Montgomery Scott LLC lifted its holdings in Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) by 5.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 72,706 shares of the software maker’s stock after purchasing an additional 4,039 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Shopify were worth $1,959,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Canal Capital Management LLC grew its position in shares of Shopify by 28.8% in the 3rd quarter. Canal Capital Management LLC now owns 12,838 shares of the software maker’s stock valued at $346,000 after purchasing an additional 2,868 shares during the period. Eqis Capital Management Inc. bought a new stake in Shopify in the 3rd quarter valued at $1,512,000. WP Advisors LLC increased its position in Shopify by 15.1% during the 3rd quarter. WP Advisors LLC now owns 33,610 shares of the software maker’s stock worth $905,000 after buying an additional 4,420 shares during the period. Granite Bay Wealth Management LLC increased its position in Shopify by 6.7% during the 3rd quarter. Granite Bay Wealth Management LLC now owns 16,258 shares of the software maker’s stock worth $438,000 after buying an additional 1,028 shares during the period. Finally, Trust Co. of Vermont grew its holdings in shares of Shopify by 950.0% during the 3rd quarter. Trust Co. of Vermont now owns 1,050 shares of the software maker’s stock worth $28,000 after purchasing an additional 950 shares in the last quarter. 56.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. CIBC raised Shopify from a “neutral” rating to a “sector outperform” rating in a research note on Tuesday, December 6th. Royal Bank of Canada reduced their price objective on Shopify from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. Capital One Financial began coverage on Shopify in a research report on Thursday, December 8th. They set an “equal weight” rating on the stock. DA Davidson reissued a “neutral” rating on shares of Shopify in a research report on Thursday. Finally, Jefferies Financial Group cut Shopify from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research report on Thursday, January 5th. Three research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Shopify currently has an average rating of “Hold” and an average target price of $56.05.

Shopify Stock Performance

Shares of SHOP stock opened at $38.89 on Friday. The company’s fifty day simple moving average is $36.84 and its 200-day simple moving average is $34.20. The company has a market cap of $49.11 billion, a PE ratio of -15.34 and a beta of 1.93. Shopify Inc. has a 52 week low of $23.63 and a 52 week high of $112.25. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.15.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last posted its quarterly earnings results on Thursday, October 27th. The software maker reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. Shopify had a negative net margin of 61.17% and a negative return on equity of 3.82%. As a group, equities research analysts anticipate that Shopify Inc. will post -0.49 EPS for the current year.

Shopify Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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