Greystone Financial Group LLC Buys Shares of 4,533 Shopify Inc. (NYSE:SHOP)

Greystone Financial Group LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 4,533 shares of the software maker’s stock, valued at approximately $363,000.

Other large investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group boosted its position in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new position in shares of Shopify during the 2nd quarter valued at about $33,000. Hazlett Burt & Watson Inc. bought a new position in shares of Shopify during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Shopify during the 2nd quarter valued at about $39,000. Finally, Private Wealth Management Group LLC boosted its holdings in shares of Shopify by 53.3% in the first quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock worth $40,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $80.20 on Thursday. The stock has a market capitalization of $103.35 billion, a P/E ratio of 81.28, a P/E/G ratio of 2.73 and a beta of 2.36. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $76.94 and a two-hundred day moving average price of $69.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly 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. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. Shopify’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) EPS. Equities analysts predict that Shopify Inc. will post 0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on SHOP shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Evercore ISI lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Morgan Stanley lifted their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Bank of America raised shares of Shopify from a “neutral” rating to a “buy” rating and lifted their price target for the company from $78.00 to $82.00 in a research report on Tuesday, July 16th. Finally, Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $79.36.

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.