BluePointe Capital Management LLC Has $782,000 Stock Position in Shopify Inc. (NYSE:SHOP)

BluePointe Capital Management LLC cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,763 shares of the software maker’s stock after selling 507 shares during the quarter. BluePointe Capital Management LLC’s holdings in Shopify were worth $782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Shopify by 100.0% in the second 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. acquired a new stake in Shopify during the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify in the 2nd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton raised its holdings in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Shopify during the 2nd quarter worth approximately $39,000. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shopify stock opened at $109.08 on Friday. The company has a market capitalization of $140.76 billion, a price-to-earnings ratio of 101.94, a PEG ratio of 3.71 and a beta of 2.36. The stock’s 50 day moving average is $80.36 and its 200-day moving average is $70.50. The company has a current ratio of 7.10, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Shopify had a return on equity of 11.60% and a net margin of 16.84%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Equities research analysts expect that Shopify Inc. will post 0.76 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on SHOP. Royal Bank of Canada lifted their price objective on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Shopify in a report on Monday, October 7th. KeyCorp upped their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday. Argus raised Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Citigroup raised their target price on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

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.