Capital Investment Advisory Services LLC Boosts Stock Position in Shopify Inc. (NYSE:SHOP)

Capital Investment Advisory Services LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,823 shares of the software maker’s stock after purchasing an additional 302 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Shopify were worth $376,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SHOP. Artisan Partners Limited Partnership increased 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 purchasing an additional 2,113,773 shares during the last quarter. 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. Quadrature Capital Ltd purchased a new stake in Shopify during the 3rd quarter worth approximately $68,746,000. International Assets Investment Management LLC increased its holdings in Shopify by 6,637.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock worth $92,592,000 after purchasing an additional 1,170,956 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Shopify in the 3rd quarter worth approximately $49,113,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

SHOP opened at $74.02 on Wednesday. The company has a market cap of $95.23 billion, a PE ratio of 822.54 and a beta of 2.22. The stock has a 50-day moving average of $75.91 and a 200-day moving average of $72.39. Shopify Inc. has a 52-week low of $45.50 and a 52-week 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.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Robert W. Baird lifted their target price on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Wedbush reiterated a “neutral” rating and issued a $68.00 target price on shares of Shopify in a research report on Tuesday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th. Barclays decreased their target price on Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 14th. Finally, Truist Financial lifted their target price on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $78.30.

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.