Farther Finance Advisors LLC Buys 312 Shares of Shopify Inc. (NYSE:SHOP)

Farther Finance Advisors LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,147 shares of the software maker’s stock after acquiring an additional 312 shares during the period. Farther Finance Advisors LLC’s holdings in Shopify were worth $1,374,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SHOP. Oliver Lagore Vanvalin Investment Group increased its position in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Shopify during the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify during the 2nd quarter worth $33,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Shopify in the 2nd quarter worth about $39,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SHOP. Citigroup lifted their price objective on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Truist Financial lowered their target price on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Evercore increased their price target on Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. Finally, Wedbush restated a “neutral” rating and issued a $72.00 price objective (up from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.03.

Shopify Price Performance

SHOP opened at $78.99 on Monday. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $101.93 billion, a P/E ratio of 80.60, a PEG ratio of 2.62 and a beta of 2.36. The stock has a 50-day moving average price of $77.54 and a 200-day moving average price of $69.39. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion during 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 revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Equities analysts predict that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

About Shopify

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.