Shopify Inc. (NYSE:SHOP) Shares Bought by One Wealth Management Investment & Advisory Services LLC

One Wealth Management Investment & Advisory Services LLC grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 132.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 13,714 shares of the software maker’s stock after buying an additional 7,805 shares during the period. One Wealth Management Investment & Advisory Services LLC’s holdings in Shopify were worth $906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Capital World Investors raised its holdings 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 worth $3,840,332,000 after acquiring an additional 10,340,040 shares during the period. Vanguard Group Inc. raised its holdings in Shopify by 1.7% in 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 during the period. Price T Rowe Associates Inc. MD raised its holdings in Shopify by 21.2% in 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 during the period. GQG Partners LLC raised its holdings in Shopify by 197.9% in 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 during the period. Finally, Capital International Investors raised its holdings in Shopify by 3.4% in 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 during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Argus raised Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Cantor Fitzgerald assumed coverage on Shopify in a research report on Thursday. They issued a “neutral” rating and a $70.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Evercore ISI boosted their price objective on Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, JMP Securities reissued a “market outperform” rating and set a $80.00 price objective on shares of Shopify in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.11.

Shopify Price Performance

Shopify stock traded down $3.10 during midday trading on Friday, reaching $67.01. The company’s stock had a trading volume of 7,380,375 shares, compared to its average volume of 9,966,647. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The stock’s 50 day simple moving average is $66.99 and its 200 day simple moving average is $68.63. The firm has a market capitalization of $86.35 billion, a PE ratio of -394.18, a P/E/G ratio of 2.48 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the company earned ($0.08) earnings per share. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

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.