Nations Financial Group Inc. IA ADV Increases Stock Position in Shopify Inc. (NYSE:SHOP)

Nations Financial Group Inc. IA ADV boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,756 shares of the software maker’s stock after purchasing an additional 209 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Shopify were worth $381,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SHOP. Capital World Investors raised its position in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after buying an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Shopify by 1.7% during 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 buying an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after buying an additional 5,982,434 shares in the last quarter. GQG Partners LLC raised its position in shares of Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after buying an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Shopify by 3.4% during the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after buying an additional 542,503 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the topic of several analyst reports. Wedbush reiterated a “neutral” rating and set a $115.00 price target (up from $72.00) on shares of Shopify in a report on Tuesday. 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. Royal Bank of Canada upped their price target on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Barclays upped their price target on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.95.

Shopify Trading Down 5.2 %

NYSE SHOP opened at $109.08 on Friday. The company has a fifty day simple moving average of $80.36 and a two-hundred day simple moving average of $70.50. The stock has a market cap of $140.76 billion, a P/E ratio of 101.94, a P/E/G ratio of 3.64 and a beta of 2.36. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $115.62. 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 Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.94%. On average, analysts forecast 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.