J.W. Cole Advisors Inc. Purchases 8,746 Shares of Shopify Inc. (NYSE:SHOP)

J.W. Cole Advisors Inc. grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 104.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,116 shares of the software maker’s stock after purchasing an additional 8,746 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Shopify were worth $1,131,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. DSM Capital Partners LLC acquired a new position in Shopify during the fourth quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Shopify in the fourth quarter valued at about $28,000. Cultivar Capital Inc. purchased a new stake in shares of Shopify in the second quarter valued at about $33,000. Hazlett Burt & Watson Inc. bought a new position in Shopify during the second quarter valued at about $33,000. Finally, OLD Point Trust & Financial Services N A bought a new position in Shopify during the fourth quarter valued at about $39,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 1.6 %

SHOP opened at $72.45 on Monday. The firm has a market capitalization of $93.36 billion, a P/E ratio of -426.18, a P/E/G ratio of 2.39 and a beta of 2.35. The firm’s 50 day moving average is $67.38 and its 200-day moving average is $68.30. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. 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 released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. Wedbush reiterated a “neutral” rating and set a $72.00 target price (up previously from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. Morgan Stanley raised their target price on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Wolfe Research initiated coverage on shares of Shopify in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 target price on the stock. Roth Mkm lifted their price target on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, KeyCorp started coverage on shares of Shopify in a research note on Thursday, July 25th. They set an “overweight” rating and a $80.00 price target on the stock. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.37.

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.