Watts Gwilliam & Co. LLC Makes New $723,000 Investment in Shopify Inc. (NYSE:SHOP)

by · The Cerbat Gem

Watts Gwilliam & Co. LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,760 shares of the software maker’s stock, valued at approximately $723,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors raised its holdings in shares of Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after acquiring an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. increased its position in 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 buying an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Shopify by 21.2% during the first 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 buying an additional 5,982,434 shares during the last quarter. GQG Partners LLC boosted its holdings in Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors grew its stake in shares of Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after acquiring an additional 542,503 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.8 %

Shares of NYSE SHOP opened at $82.71 on Friday. The stock has a market capitalization of $106.59 billion, a P/E ratio of 84.40, a PEG ratio of 2.79 and a beta of 2.36. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The business’s 50 day moving average is $73.12 and its two-hundred day moving average is $68.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 10.88% and a net margin of 16.40%. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. As a group, research analysts expect that Shopify Inc. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Robert W. Baird raised their price target on shares of Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Tuesday, September 17th. Benchmark restated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Finally, Wolfe Research started coverage on Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price objective on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.97.

View Our Latest Analysis on Shopify

Shopify Profile

(Free Report)

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.

Read More