Shopify Inc. (NYSE:SHOP) Shares Acquired by Valmark Advisers Inc.

Valmark Advisers Inc. boosted its holdings in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 3.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,119 shares of the software maker’s stock after acquiring an additional 219 shares during the period. Valmark Advisers Inc.’s holdings in Shopify were worth $388,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Shopify in the fourth quarter valued at approximately $414,365,000. Scge Management L.P. lifted its stake in Shopify by 0.9% during the second quarter. Scge Management L.P. now owns 8,486,491 shares of the software maker’s stock worth $548,227,000 after purchasing an additional 79,491 shares in the last quarter. TD Asset Management Inc lifted its stake 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 worth $389,052,000 after purchasing an additional 299,788 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Shopify by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 5,416,009 shares of the software maker’s stock worth $349,874,000 after purchasing an additional 194,064 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Shopify by 44.1% during the second quarter. Marshall Wace LLP now owns 4,601,132 shares of the software maker’s stock worth $297,233,000 after purchasing an additional 1,407,400 shares in the last quarter. 60.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on SHOP shares. Morgan Stanley upped their price target on Shopify from $62.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, December 4th. Loop Capital decreased their price target on Shopify from $62.00 to $57.00 and set a “hold” rating on the stock in a research note on Monday, October 16th. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a report on Saturday, January 27th. Wedbush reiterated a “neutral” rating and issued a $68.00 target price (up from $66.00) on shares of Shopify in a report on Wednesday, December 6th. Finally, Citigroup lifted their target price on Shopify from $62.00 to $74.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Shopify has a consensus rating of “Hold” and a consensus price target of $71.95.

Check Out Our Latest Stock Report on Shopify

Shopify Stock Performance

Shares of SHOP stock opened at $82.93 on Friday. The stock has a market capitalization of $106.55 billion, a PE ratio of -91.13 and a beta of 2.27. Shopify Inc. has a 52-week low of $39.02 and a 52-week high of $83.57. The stock’s 50-day moving average price is $77.23 and its 200 day moving average price is $65.19. The company has a quick ratio of 7.23, a current ratio of 7.23 and a debt-to-equity ratio of 0.13.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last announced its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Shopify had a negative return on equity of 0.30% and a negative net margin of 17.27%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.67 billion. As a group, equities research analysts forecast that Shopify Inc. will post 0.21 EPS for the current year.

Shopify Profile

(Free Report)

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

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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