Shopify Inc. (NYSE:SHOP) Position Boosted by Sunbelt Securities Inc.

Sunbelt Securities Inc. raised its holdings in shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 10.3% during the 3rd quarter, Holdings Channel reports. The fund owned 9,697 shares of the software maker’s stock after purchasing an additional 907 shares during the period. Sunbelt Securities Inc.’s holdings in Shopify were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SHOP. Fairfield Bush & CO. bought a new position in Shopify in the 1st quarter valued at about $169,000. Raymond James Trust N.A. boosted its holdings in shares of Shopify by 26.5% in the first quarter. Raymond James Trust N.A. now owns 754 shares of the software maker’s stock valued at $510,000 after acquiring an additional 158 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Shopify by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker’s stock valued at $20,391,000 after acquiring an additional 592 shares during the period. Cetera Investment Advisers raised its holdings in Shopify by 13.0% during the first quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker’s stock worth $3,107,000 after purchasing an additional 527 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Shopify by 89.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker’s stock valued at $295,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHOP. Capital One Financial started coverage on shares of Shopify in a report on Thursday, December 8th. They issued an “equal weight” rating on the stock. Scotiabank started coverage on Shopify in a research report on Tuesday, January 31st. They set a “sector perform” rating and a $43.00 price objective for the company. Loop Capital lifted their target price on Shopify from $33.00 to $36.00 in a report on Thursday, January 12th. Mizuho boosted their target price on Shopify from $33.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, December 8th. Finally, Wolfe Research lowered Shopify from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 7th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Shopify has an average rating of “Hold” and a consensus price target of $47.38.

Shopify Price Performance

Shares of SHOP opened at $44.68 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.07 and a current ratio of 7.07. The firm has a market cap of $56.42 billion, a PE ratio of -16.37 and a beta of 2.04. The firm’s 50 day moving average price is $44.17 and its 200 day moving average price is $37.16. Shopify Inc. has a twelve month low of $23.63 and a twelve month high of $78.00.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last released its quarterly earnings results on Wednesday, February 15th. The software maker reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.64 billion. Shopify had a negative net margin of 61.79% and a negative return on equity of 5.62%. As a group, research analysts expect that Shopify Inc. will post -0.48 EPS for the current fiscal year.

Shopify Company Profile

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Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.