Empower Advisory Group LLC Acquires 315 Shares of Shopify Inc. (NYSE:SHOP)

Empower Advisory Group LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,366 shares of the software maker’s stock after purchasing an additional 315 shares during the period. Empower Advisory Group LLC’s holdings in Shopify were worth $1,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group raised its stake in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new position in shares of Shopify in the 2nd quarter worth approximately $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify in the 2nd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton boosted its position in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify in the second quarter worth $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SHOP. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. JMP Securities boosted their price objective on shares of Shopify from $80.00 to $120.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Canaccord Genuity Group raised their target price on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore boosted their price target on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Finally, Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective (up previously from $72.00) on shares of Shopify in a research report on Tuesday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Stock Performance

NYSE SHOP opened at $115.13 on Thursday. 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 1-year low of $48.56 and a 1-year high of $115.62. The business has a 50 day simple moving average of $79.47 and a two-hundred day simple moving average of $70.18. The stock has a market capitalization of $148.56 billion, a PE ratio of 107.60, a P/E/G ratio of 3.64 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Shopify had a return on equity of 11.94% and a net margin of 16.84%. On average, research analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal 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.