Bouvel Investment Partners LLC Has $1.39 Million Stake in Shopify Inc. (NYSE:SHOP)

Bouvel Investment Partners LLC reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,376 shares of the software maker’s stock after selling 203 shares during the quarter. Bouvel Investment Partners LLC’s holdings in Shopify were worth $1,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moser Wealth Advisors LLC lifted its stake in Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after acquiring an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. CVA Family Office LLC grew its position in Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC increased its stake in Shopify by 3.5% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after buying an additional 145 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SHOP. JPMorgan Chase & Co. lifted their target price on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday, September 17th. Loop Capital upped their price target on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI increased their price target on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Stock Performance

Shares of SHOP stock opened at $115.13 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. Shopify Inc. has a one year low of $48.56 and a one year high of $115.62. The business’s 50 day simple moving average is $79.47 and its 200 day simple moving average is $70.18. The stock has a market capitalization of $148.56 billion, a PE ratio of 107.60, a PEG ratio of 3.64 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Shopify had a return on equity of 11.94% and a net margin of 16.84%. As a group, research analysts forecast that Shopify Inc. will post 0.76 earnings per share 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.