J.W. Cole Advisors Inc. Invests $629,000 in Shopify Inc. (NYSE:SHOP)

J.W. Cole Advisors Inc. acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 8,074 shares of the software maker’s stock, valued at approximately $629,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its position in Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after acquiring an additional 1,419,749 shares in the last quarter. Vanguard Group Inc. raised its position in Shopify by 1.6% during the third quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock valued at $2,233,344,000 after acquiring an additional 634,883 shares in the last quarter. TD Asset Management Inc raised its position in Shopify by 4.4% during the third quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock valued at $389,052,000 after acquiring an additional 299,788 shares in the last quarter. Legal & General Group Plc raised its position in Shopify by 6.5% during the third quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock valued at $339,750,000 after acquiring an additional 377,901 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Shopify by 78.4% during the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after acquiring an additional 2,113,773 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several recent research reports. BNP Paribas lowered shares of Shopify from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 18th. Wedbush reaffirmed a “neutral” rating and set a $68.00 price objective on shares of Shopify in a research report on Tuesday, February 13th. Robert W. Baird increased their price target on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. ATB Capital increased their price target on Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Finally, DA Davidson increased their price target on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $78.30.

Shopify Stock Up 1.3 %

Shares of NYSE SHOP opened at $70.57 on Tuesday. The stock has a market cap of $90.79 billion, a PE ratio of 784.20 and a beta of 2.22. The business has a fifty day moving average of $75.98 and a two-hundred day moving average of $72.25. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, equities research analysts expect that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Shopify 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.