Values First Advisors Inc. Makes New Investment in Shopify Inc. (NYSE:SHOP)

Values First Advisors Inc. acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,804 shares of the software maker’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHOP. Fairfield Bush & CO. acquired a new stake in shares of Shopify in the first quarter valued at approximately $169,000. Raymond James Trust N.A. raised its position in shares of Shopify by 26.5% in the first quarter. Raymond James Trust N.A. now owns 754 shares of the software maker’s stock valued at $510,000 after buying an additional 158 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Shopify by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker’s stock valued at $20,391,000 after buying an additional 592 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Shopify by 13.0% in the first quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker’s stock valued at $3,107,000 after buying an additional 527 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Shopify by 89.6% in the first quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker’s stock valued at $295,000 after acquiring an additional 206 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 1.9 %

Shares of NYSE SHOP traded down $1.46 during midday trading on Thursday, hitting $77.16. The stock had a trading volume of 4,256,881 shares, compared to its average volume of 9,806,782. The business’s 50 day moving average is $79.33 and its 200-day moving average is $70.04. The company has a market cap of $99.27 billion, a P/E ratio of 857.43 and a beta of 2.22. Shopify Inc. has a 52 week low of $43.50 and a 52 week high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, analysts predict that Shopify Inc. will post 0.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SHOP shares. The Goldman Sachs Group lifted their price objective on shares of Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Stifel Nicolaus upped their price objective on shares of Shopify from $65.00 to $75.00 in a report on Wednesday, December 6th. JMP Securities reiterated a “market perform” rating on shares of Shopify in a report on Monday, December 18th. Truist Financial boosted their target price on shares of Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, February 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Hold” and an average target price of $76.42.

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.