Paces Ferry Wealth Advisors LLC Takes $250,000 Position in Shopify Inc. (NYSE:SHOP)

Paces Ferry Wealth Advisors LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, Holdings Channel.com reports. The fund acquired 3,203 shares of the software maker’s stock, valued at approximately $250,000.

Other large investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in Shopify by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after acquiring an additional 1,419,749 shares during the period. Vanguard Group Inc. grew its stake in shares of Shopify by 1.6% in the third quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock worth $2,233,344,000 after purchasing an additional 634,883 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Shopify by 4.4% in the third quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock worth $389,052,000 after purchasing an additional 299,788 shares during the last quarter. Legal & General Group Plc increased its holdings in Shopify by 6.5% in the third quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock valued at $339,750,000 after purchasing an additional 377,901 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Shopify by 78.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after purchasing an additional 2,113,773 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHOP. Jefferies Financial Group raised their price objective on Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, January 5th. StockNews.com upgraded shares of Shopify from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group increased their price target on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, April 16th. Finally, UBS Group raised their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Shopify presently has an average rating of “Hold” and a consensus price target of $78.62.

Shopify Stock Performance

SHOP traded down $2.30 on Tuesday, hitting $70.19. The company’s stock had a trading volume of 8,240,011 shares, compared to its average volume of 9,333,998. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The firm has a market cap of $90.30 billion, a P/E ratio of 779.92 and a beta of 2.22. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company’s 50 day simple moving average is $74.93 and its 200-day simple moving average is $73.02.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Analysts forecast that Shopify Inc. will post 0.58 EPS for the current year.

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.