Shopify Inc. (NYSE:SHOP) Shares Acquired by TFB Advisors LLC

TFB Advisors LLC lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 25.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,642 shares of the software maker’s stock after purchasing an additional 742 shares during the period. TFB Advisors LLC’s holdings in Shopify were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wealth Management Partners LLC grew its holdings in shares of Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after buying an additional 126 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings in shares of 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 buying an additional 130 shares during the last quarter. Tradition Wealth Management LLC grew its holdings in shares of Shopify by 7.5% during the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after buying an additional 140 shares during the last quarter. Pachira Investments Inc. boosted its holdings in Shopify by 2.1% in the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after purchasing an additional 146 shares in the last quarter. Finally, Baldwin Brothers LLC MA boosted its holdings in Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE SHOP traded down $0.51 during mid-day trading on Wednesday, reaching $65.62. 7,116,561 shares of the company traded hands, compared to its average volume of 10,103,333. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. The firm has a market cap of $84.56 billion, a PE ratio of -383.24, a price-to-earnings-growth ratio of 3.38 and a beta of 2.30. The stock has a fifty day simple moving average of $63.47 and a 200-day simple moving average of $72.49.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on SHOP shares. The Goldman Sachs Group lifted their price objective on Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Barclays reduced their price target on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Robert W. Baird reduced their price target on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Benchmark reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, May 7th. Finally, Atb Cap Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.