Valmark Advisers Inc. Purchases 568 Shares of Shopify Inc. (NYSE:SHOP)

Valmark Advisers Inc. boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.5% during the third quarter, HoldingsChannel reports. The fund owned 10,867 shares of the software maker’s stock after buying an additional 568 shares during the quarter. Valmark Advisers Inc.’s holdings in Shopify were worth $871,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the period. Cultivar Capital Inc. bought a new position in Shopify in the 2nd quarter worth about $33,000. Hazlett Burt & Watson Inc. bought a new position in Shopify in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Shopify during the 2nd quarter valued at about $39,000. Finally, GAMMA Investing LLC increased its position in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.4 %

Shares of SHOP opened at $80.03 on Thursday. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The firm has a market capitalization of $103.13 billion, a price-to-earnings ratio of -470.76, a PEG ratio of 2.65 and a beta of 2.36. The firm’s 50-day moving average price is $77.41 and its 200-day moving average price is $69.25. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. Sell-side analysts anticipate that Shopify Inc. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on SHOP. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Benchmark restated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price objective on shares of Shopify in a research report on Tuesday, September 10th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, Roth Mkm upped their target price on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.21.

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.