Toth Financial Advisory Corp Increases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Toth Financial Advisory Corp raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 375.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,135 shares of the software maker’s stock after buying an additional 4,845 shares during the quarter. Toth Financial Advisory Corp’s holdings in Shopify were worth $492,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norden Group LLC purchased a new position in shares of Shopify in the 1st quarter valued at approximately $3,618,000. Silvercrest Asset Management Group LLC raised its holdings in shares of Shopify by 735.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after buying an additional 46,589 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Shopify by 5.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock worth $40,838,000 after buying an additional 28,639 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after buying an additional 1,657,251 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Shopify by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after acquiring an additional 713,064 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Evercore lifted their price target on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of Shopify in a research report on Tuesday, September 10th. Barclays upped their price objective on shares of Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Morgan Stanley upped their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Wolfe Research started coverage on Shopify in a research note on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.36.

Shopify Trading Down 0.0 %

Shares of SHOP stock opened at $82.65 on Tuesday. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The stock has a market cap of $106.51 billion, a price-to-earnings ratio of 84.34, a PEG ratio of 2.77 and a beta of 2.36. The company’s 50-day moving average price is $76.54 and its 200-day moving average price is $68.88. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm posted ($0.08) earnings per share. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, equities analysts predict that Shopify Inc. will post 0.76 earnings per share for the current year.

About Shopify

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.