Raymond James Financial Services Advisors Inc. Purchases 8,006 Shares of Shopify Inc. (NYSE:SHOP)

Raymond James Financial Services Advisors Inc. raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 401,382 shares of the software maker’s stock after purchasing an additional 8,006 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Shopify were worth $31,268,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. raised its position in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new position in shares of Shopify during the second quarter worth about $27,000. Activest Wealth Management bought a new position in shares of Shopify during the third quarter worth about $33,000. Baldwin Brothers LLC MA raised its position in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the last quarter. Finally, Global Trust Asset Management LLC increased its holdings in Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after purchasing an additional 350 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

NYSE:SHOP opened at $78.62 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. Shopify Inc. has a 52-week low of $43.50 and a 52-week high of $91.57. The firm has a market cap of $101.15 billion, a price-to-earnings ratio of 873.65 and a beta of 2.22. The business’s fifty day moving average is $79.36 and its 200 day moving average is $69.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Research analysts predict that Shopify Inc. will post 0.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SHOP shares. DA Davidson lifted their target price on Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. The Goldman Sachs Group lifted their target price on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. DZ Bank reiterated a “sell” rating and issued a $65.00 target price on shares of Shopify in a report on Tuesday, December 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Shopify from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Finally, ATB Capital raised their price objective on Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.42.

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.