Alan B Lancz & Associates Inc. Has $509,000 Holdings in Shopify Inc. (NYSE:SHOP)

Alan B Lancz & Associates Inc. lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,350 shares of the software maker’s stock after purchasing an additional 1,000 shares during the period. Alan B Lancz & Associates Inc.’s holdings in Shopify were worth $509,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SHOP. Silvercrest Asset Management Group LLC increased its position in Shopify by 735.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after purchasing an additional 46,589 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Shopify by 3.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,371 shares of the software maker’s stock worth $15,079,000 after buying an additional 7,009 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Shopify by 5.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock worth $40,838,000 after buying an additional 28,639 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Shopify by 54.2% in the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after buying an additional 1,657,251 shares during the period. Finally, Dash Acquisitions Inc. bought a new position in Shopify in the third quarter valued at approximately $2,933,000. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

SHOP has been the subject of several recent research reports. Barclays upped their target price on shares of Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Robert W. Baird increased their target price on Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and upped their price target for the company from $78.00 to $82.00 in a research note on Tuesday, July 16th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, KeyCorp initiated coverage on shares of Shopify in a research note on Thursday, July 25th. They issued an “overweight” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.03.

Shopify Stock Up 1.8 %

SHOP stock opened at $87.12 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $91.57. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $78.41 and a two-hundred day moving average price of $69.83. The company has a market cap of $112.42 billion, a price-to-earnings ratio of 88.90, a P/E/G ratio of 2.91 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business 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 quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) earnings per share. Analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal 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.