Shopify Inc. (NYSE:SHOP) Shares Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 20.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,524 shares of the software maker’s stock after acquiring an additional 2,265 shares during the period. Cornerstone Wealth Management LLC’s holdings in Shopify were worth $1,044,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SHOP. Private Wealth Management Group LLC acquired a new position in Shopify in the fourth quarter valued at approximately $26,000. SJS Investment Consulting Inc. lifted its stake in 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 purchasing an additional 130 shares in the last quarter. DSM Capital Partners LLC acquired a new position in Shopify during the fourth quarter worth $28,000. Jones Financial Companies Lllp acquired a new position in Shopify during the fourth quarter worth $28,000. Finally, Your Advocates Ltd. LLP lifted its stake in Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after purchasing an additional 391 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

NYSE:SHOP traded up $0.67 during mid-day trading on Thursday, reaching $66.73. The stock had a trading volume of 3,930,953 shares, compared to its average volume of 9,072,079. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The firm has a market capitalization of $85.99 billion, a price-to-earnings ratio of -392.82, a PEG ratio of 3.32 and a beta of 2.30. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The business has a 50 day simple moving average of $63.92 and a 200 day simple moving average of $72.83.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. On average, analysts expect that Shopify Inc. will post 0.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of a number of research reports. Atb Cap Markets upgraded Shopify from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. Moffett Nathanson cut Shopify from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $74.00 to $65.00 in a research note on Thursday, June 6th. Needham & Company LLC restated a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. Robert W. Baird cut their price objective on Shopify from $87.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.42.

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.