Blake Schutter Theil Wealth Advisors LLC Takes $209,000 Position in Shopify Inc. (NYSE:SHOP)

Blake Schutter Theil Wealth Advisors LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 2,602 shares of the software maker’s stock, valued at approximately $209,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the period. Cultivar Capital Inc. bought a new stake in Shopify in the second quarter worth about $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify in the second quarter valued at about $33,000. Rosenberg Matthew Hamilton grew its position in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Shopify during the 2nd quarter worth approximately $39,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

NYSE SHOP opened at $85.62 on Friday. The company has a 50-day simple moving average of $77.90 and a two-hundred day simple moving average of $69.61. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $91.57. The firm has a market cap of $110.48 billion, a price-to-earnings ratio of 87.36, a PEG ratio of 2.62 and a beta of 2.36. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly 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. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the company earned ($0.08) EPS. Shopify’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts forecast that Shopify Inc. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SHOP. JPMorgan Chase & Co. increased their price objective on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their price objective on Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Royal Bank of Canada upped their price objective on shares of Shopify from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 18th. UBS Group lifted their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Wedbush restated a “neutral” rating and set a $72.00 price target (up from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.03.

Shopify Company 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.