Farther Finance Advisors LLC Buys 312 Shares of Shopify Inc. (NYSE:SHOP)

Farther Finance Advisors LLC increased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,147 shares of the software maker’s stock after acquiring an additional 312 shares during the quarter. Farther Finance Advisors LLC’s holdings in Shopify were worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Shopify by 100.0% during 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 during the period. Cultivar Capital Inc. bought a new stake in Shopify during the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. purchased a new stake in Shopify during the 2nd quarter valued at $33,000. Rosenberg Matthew Hamilton grew its holdings in 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 acquiring an additional 133 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Shopify in the second quarter valued at about $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the topic of several recent analyst reports. Robert W. Baird raised their target price on Shopify from $79.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Morgan Stanley lifted their price objective on Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Piper Sandler reissued a “neutral” rating and set a $67.00 target price on shares of Shopify in a research note on Thursday, August 29th. Scotiabank raised their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price objective on shares of Shopify from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.03.

Shopify Trading Up 1.0 %

Shares of NYSE:SHOP opened at $78.99 on Monday. The stock’s 50-day simple moving average is $77.54 and its two-hundred day simple moving average is $69.39. The stock has a market capitalization of $101.93 billion, a price-to-earnings ratio of 80.60, a PEG ratio of 2.62 and a beta of 2.36. Shopify Inc. has a 52-week low of $48.56 and a 52-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.

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

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.