Angeles Investment Advisors LLC Boosts Stock Holdings in Shopify Inc. (NYSE:SHOP)

Angeles Investment Advisors LLC grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,391 shares of the software maker’s stock after purchasing an additional 402 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Shopify were worth $833,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group boosted its stake in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in Shopify during the 2nd quarter worth $33,000. Hazlett Burt & Watson Inc. acquired a new stake in Shopify during the 2nd quarter worth $33,000. Rosenberg Matthew Hamilton boosted its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Shopify during the 2nd quarter worth $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SHOP shares. Wolfe Research started coverage on shares of Shopify in a research note on Tuesday, July 16th. They set an “outperform” rating and a $80.00 target price on the stock. Argus raised shares of Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Truist Financial lowered their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.16.

Shopify Trading Up 1.6 %

NYSE:SHOP traded up $1.74 during mid-day trading on Wednesday, reaching $110.66. The company’s stock had a trading volume of 2,973,161 shares, compared to its average volume of 9,258,543. The company’s fifty day simple moving average is $79.47 and its two-hundred day simple moving average is $70.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $114.51. The stock has a market cap of $142.79 billion, a P/E ratio of 110.45, a P/E/G ratio of 3.01 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. On average, equities analysts predict that Shopify Inc. will post 0.76 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.