Consolidated Portfolio Review Corp Acquires New Position in Shopify Inc. (NYSE:SHOP)

Consolidated Portfolio Review Corp bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,140 shares of the software maker’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Fairfield Bush & CO. purchased a new position in shares of Shopify in the first quarter worth about $169,000. Raymond James Trust N.A. increased its stake in Shopify by 26.5% in the 1st quarter. Raymond James Trust N.A. now owns 754 shares of the software maker’s stock worth $510,000 after purchasing an additional 158 shares during the period. Dimensional Fund Advisors LP lifted its position in Shopify by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker’s stock valued at $20,391,000 after purchasing an additional 592 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Shopify by 13.0% during the first quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker’s stock valued at $3,107,000 after purchasing an additional 527 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Shopify by 89.6% in the first quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker’s stock worth $295,000 after purchasing an additional 206 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SHOP. Barclays cut their price target on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. Roth Capital upped their price target on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Robert W. Baird increased their price objective on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. UBS Group boosted their target price on Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, ATB Capital raised their price target on Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. 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 stock. According to data from MarketBeat.com, Shopify has an average rating of “Hold” and an average price target of $77.38.

Shopify Stock Performance

Shares of NYSE SHOP opened at $70.00 on Monday. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $77.97 and its 200-day moving average price is $71.56. Shopify Inc. has a 52-week low of $45.11 and a 52-week high of $91.57. The company has a market cap of $90.06 billion, a PE ratio of 777.78 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, analysts anticipate that Shopify Inc. will post 0.57 EPS for the current year.

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.