Shopify Inc. (NYSE:SHOP) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,086 shares of the software maker’s stock after buying an additional 1,144 shares during the period. First Trust Direct Indexing L.P.’s holdings in Shopify were worth $1,164,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. StoneCrest Wealth Management Inc. acquired a new position in Shopify during the 4th quarter worth approximately $1,164,000. FIL Ltd increased its stake in Shopify by 1.8% during the 4th quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock worth $1,035,688,000 after buying an additional 238,596 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Shopify by 4,007.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after buying an additional 34,624 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of Shopify by 5.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,340 shares of the software maker’s stock valued at $335,000 after acquiring an additional 219 shares in the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Shopify during the fourth quarter worth about $433,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of NYSE SHOP opened at $66.73 on Friday. The firm has a market capitalization of $85.99 billion, a price-to-earnings ratio of -392.53, a PEG ratio of 3.35 and a beta of 2.30. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The business has a fifty day simple moving average of $63.73 and a 200 day simple moving average of $72.75. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. Sell-side analysts expect that Shopify Inc. will post 0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several research analyst reports. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. JMP Securities upgraded Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, May 9th. Citigroup lifted their target price on Shopify from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

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.