CW Advisors LLC Purchases 5,968 Shares of Shopify Inc. $SHOP

CW Advisors LLC raised its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,613 shares of the software maker’s stock after buying an additional 5,968 shares during the period. CW Advisors LLC’s holdings in Shopify were worth $16,104,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Shopify by 2.8% during the second quarter. Vanguard Group Inc. now owns 49,316,695 shares of the software maker’s stock worth $5,688,053,000 after purchasing an additional 1,354,415 shares during the period. Norges Bank bought a new position in Shopify during the 2nd quarter valued at approximately $1,794,952,000. Loomis Sayles & Co. L P lifted its holdings in Shopify by 1.3% in the 2nd quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock worth $1,686,738,000 after buying an additional 191,824 shares during the period. Jennison Associates LLC lifted its holdings in Shopify by 118.1% in the 2nd quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock worth $1,328,787,000 after buying an additional 6,238,829 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Shopify by 19.9% in the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after buying an additional 1,781,530 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BNP Paribas started coverage on Shopify in a research note on Monday, November 24th. They issued a “neutral” rating for the company. Canaccord Genuity Group raised their target price on shares of Shopify from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. UBS Group set a $195.00 target price on shares of Shopify in a research note on Wednesday. DA Davidson increased their price target on shares of Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 6th. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $166.53.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $160.00 on Thursday. The company has a 50 day simple moving average of $157.69 and a two-hundred day simple moving average of $136.94. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19. The company has a market capitalization of $208.29 billion, a price-to-earnings ratio of 118.52, a P/E/G ratio of 5.79 and a beta of 2.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. On average, analysts forecast that Shopify Inc. will post 1.12 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.