Arkadios Wealth Advisors Acquires 367 Shares of Shopify Inc. (NYSE:SHOP)

Arkadios Wealth Advisors increased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,486 shares of the software maker’s stock after purchasing an additional 367 shares during the quarter. Arkadios Wealth Advisors’ holdings in Shopify were worth $1,081,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norden Group LLC bought a new stake in shares of Shopify in the 1st quarter valued at about $3,618,000. Silvercrest Asset Management Group LLC increased its position in Shopify by 735.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after purchasing an additional 46,589 shares during the period. DekaBank Deutsche Girozentrale increased its position in Shopify by 5.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after purchasing an additional 28,639 shares during the period. Clearbridge Investments LLC raised its holdings in Shopify by 54.2% during the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after purchasing an additional 1,657,251 shares during the last quarter. Finally, Vanguard Group Inc. lifted 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 worth $3,309,154,000 after purchasing an additional 713,064 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 1.0 %

Shares of NYSE:SHOP opened at $79.05 on Monday. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The company has a market capitalization of $101.87 billion, a PE ratio of -465.00, a price-to-earnings-growth ratio of 2.73 and a beta of 2.36. The business has a fifty day moving average price of $77.13 and a two-hundred day moving average price of $69.04. 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 (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SHOP. Benchmark reissued a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Shopify in a research note on Tuesday, September 10th. Roth Mkm raised their target price on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. UBS Group lifted their target price on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Morgan Stanley increased their price target on Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.21.

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.