Paces Ferry Wealth Advisors LLC Acquires Shares of 3,203 Shopify Inc. (NYSE:SHOP)

Paces Ferry Wealth Advisors LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,203 shares of the software maker’s stock, valued at approximately $250,000.

Several other institutional investors have also modified their holdings of SHOP. Baillie Gifford & Co. increased its holdings in Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after purchasing an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. raised its holdings in Shopify by 1.6% in the third quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock valued at $2,233,344,000 after acquiring an additional 634,883 shares in the last quarter. TD Asset Management Inc boosted its stake in Shopify by 4.4% during the 3rd quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock valued at $389,052,000 after acquiring an additional 299,788 shares during the last quarter. Legal & General Group Plc grew its holdings in Shopify by 6.5% during the 3rd quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock worth $339,750,000 after acquiring an additional 377,901 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Shopify by 78.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after acquiring an additional 2,113,773 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 3.2 %

Shares of SHOP stock traded down $2.30 on Tuesday, reaching $70.19. 8,240,011 shares of the company’s stock traded hands, compared to its average volume of 9,333,998. The company has a market capitalization of $90.30 billion, a P/E ratio of 779.92 and a beta of 2.22. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The business’s 50 day moving average price is $74.93 and its two-hundred day moving average price is $73.02.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. On average, equities analysts forecast that Shopify Inc. will post 0.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Shopify in a research note on Wednesday, February 14th. Robert W. Baird boosted their price target on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Mizuho lifted their price objective on shares of Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Roth Capital boosted their target price on shares of Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Loop Capital decreased their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Shopify currently has a consensus rating of “Hold” and an average price target of $78.62.

Shopify Company 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.