Sequoia Financial Advisors LLC Buys 19,977 Shares of Shopify Inc. (NYSE:SHOP)

Sequoia Financial Advisors LLC boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 135.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,679 shares of the software maker’s stock after buying an additional 19,977 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Shopify were worth $2,701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. raised its holdings in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new stake in shares of Shopify in the 2nd quarter valued at about $27,000. Activest Wealth Management bought a new stake in shares of Shopify in the 3rd quarter valued at about $33,000. Baldwin Brothers LLC MA raised its holdings in shares of Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. Finally, Global Trust Asset Management LLC raised its holdings in shares of Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE SHOP opened at $71.53 on Friday. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 52 week low of $45.11 and a 52 week high of $91.57. The firm has a 50-day simple moving average of $78.22 and a 200-day simple moving average of $71.17. The stock has a market capitalization of $92.03 billion, a price-to-earnings ratio of 794.87 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. On average, equities analysts predict that Shopify Inc. will post 0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Shopify from a “sell” rating to a “hold” rating in a report on Saturday, January 27th. CIBC boosted their price objective on shares of Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Citigroup reduced their price objective on shares of Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price objective on shares of Shopify in a research note on Wednesday, February 14th. Finally, Jefferies Financial Group boosted their price objective on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, January 5th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Hold” and a consensus price target of $77.38.

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.