12,854 Shares in Shopify Inc. $SHOP Purchased by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 3rd quarter, Holdings Channel reports. The firm bought 12,854 shares of the software maker’s stock, valued at approximately $1,910,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHOP. Accurate Wealth Management LLC grew its holdings in shares of Shopify by 2.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock worth $526,000 after acquiring an additional 67 shares during the period. Rothschild Investment LLC boosted its position in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Shopify by 0.9% in the third quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after buying an additional 75 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Shopify by 13.9% in the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock valued at $72,000 after buying an additional 77 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC raised its stake in shares of Shopify by 6.5% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 1,315 shares of the software maker’s stock worth $195,000 after buying an additional 80 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $167.44 on Wednesday. The firm has a market cap of $217.98 billion, a P/E ratio of 124.03, a price-to-earnings-growth ratio of 4.99 and a beta of 2.83. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The firm’s 50 day moving average price is $160.05 and its 200 day moving average price is $148.90.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. As a group, equities analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating on shares of Shopify in a research note on Wednesday, December 3rd. BNP Paribas initiated coverage on shares of Shopify in a report on Monday, November 24th. They issued a “neutral” rating on the stock. UBS Group set a $195.00 price target on shares of Shopify in a research report on Wednesday, December 3rd. Barclays set a $140.00 price objective on Shopify and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Zacks Research cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Twenty-four research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.61.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.