Prime Capital Investment Advisors LLC Has $1.11 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Prime Capital Investment Advisors LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,801 shares of the software maker’s stock after buying an additional 195 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Shopify were worth $1,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group boosted its position in 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 buying an additional 200 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during 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. Cultivar Capital Inc. acquired a new position in Shopify in the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new position in shares of Shopify during the second quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Shopify during the second quarter valued at $39,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SHOP. JMP Securities increased their price objective on Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a report on Wednesday. Roth Mkm increased their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Truist Financial lifted their price objective on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday. KeyCorp increased their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price target (up previously from $72.00) on shares of Shopify in a research report on Tuesday. One research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Trading Down 5.2 %

NYSE:SHOP opened at $109.08 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $115.62. The firm has a 50-day moving average price of $80.36 and a two-hundred day moving average price of $70.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The firm has a market cap of $140.76 billion, a price-to-earnings ratio of 101.94, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36.

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 11.94% and a net margin of 16.84%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. On average, equities analysts expect that Shopify Inc. will post 0.76 earnings per share for the current fiscal 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.