Bay Colony Advisory Group Inc d b a Bay Colony Advisors Buys 2,200 Shares of Shopify Inc. (NYSE:SHOP)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 77.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,051 shares of the software maker’s stock after purchasing an additional 2,200 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Shopify were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake 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 valued at $3,840,332,000 after purchasing an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Shopify by 1.7% during 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 purchasing an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Shopify by 21.2% during 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 purchasing an additional 5,982,434 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Shopify by 197.9% during 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 purchasing an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of Shopify by 3.4% during 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 purchasing an additional 542,503 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 2.7 %

NYSE SHOP traded up $1.99 during trading hours on Friday, reaching $76.29. The company had a trading volume of 3,283,820 shares, compared to its average volume of 10,248,420. The stock has a 50-day moving average of $65.39 and a 200 day moving average of $69.48. 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 stock has a market capitalization of $98.31 billion, a P/E ratio of -446.59, a price-to-earnings-growth ratio of 2.50 and a beta of 2.30.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. As a group, research analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup cut their target price on shares of Shopify from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company boosted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Robert W. Baird dropped their target price on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Loop Capital boosted their price objective on shares of Shopify from $68.00 to $80.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.30.

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.