Northwest Investment Counselors LLC Makes New $64,000 Investment in Shopify Inc. (NYSE:SHOP)

Northwest Investment Counselors LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 797 shares of the software maker’s stock, valued at approximately $64,000.

Other large investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its holdings in Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares during the period. CVA Family Office LLC increased its holdings in Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after acquiring an additional 143 shares in the last quarter. Willis Johnson & Associates Inc. raised its position in Shopify by 5.8% during the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after acquiring an additional 149 shares during the period. Valley National Advisers Inc. lifted its holdings in Shopify by 11.4% during the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after purchasing an additional 152 shares in the last quarter. Finally, Wolff Wiese Magana LLC grew its position in shares of Shopify by 5.4% in the third quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock valued at $238,000 after purchasing an additional 152 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 0.0 %

Shares of NYSE SHOP opened at $82.65 on Tuesday. The business has a 50-day moving average of $76.54 and a two-hundred day moving average of $68.88. The company has a market capitalization of $106.51 billion, a price-to-earnings ratio of 84.34, a price-to-earnings-growth ratio of 2.77 and a beta of 2.36. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. 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 earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. On average, analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Shopify in a report on Tuesday, September 10th. Morgan Stanley raised their price target on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. KeyCorp initiated coverage on shares of Shopify in a research note on Thursday, July 25th. They set an “overweight” rating and a $80.00 price objective for the company. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $70.00 target price on shares of Shopify in a report on Monday, October 7th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.36.

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.